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The following is an excerpt from a May 2021, Wall Street Journal article on the rental car company, Avis Budget: Like other rental-car companies, Avis
The following is an excerpt from a May 2021, Wall Street Journal article on the rental car company, Avis Budget: "Like other rental-car companies, Avis Budget spent the pandemic unloading a large percentage of its fleet to cut costs and boost profitability amid tanking demand. In February, Avis Budget said it ultimately removed 31% of its fleet due to the pandemic. ... Avis Budget said revenue per day was up 12% in the Americas in the first quarter, and that those favorable pricing dynamics have largely continued into the second quarter. For now, a shortage of available rental vehicles, coupled with pent-up demand for travel, have consumers paying up. In March, the cheapest rental car in Maui ran more than $700 a day, according to a report last month from Hawaii News Now." Source: (2021) Forman, Laura. "Avis Budget Is Anything but Cheap," Wall Street Journal, May 4, 2021. Which of the following Supply and Demand model analyses for the rental car market best describes the increase in revenue for Avis Budget? P Graph A P Graph C P Graph E | | Q q Q P GraphF Py The following is an excerpt from a Sep 2021, Wall Street Journal article on the market for new automobiles: "General Motors Co. is extending its plans to idle some of its North American factories, compounding the effects of the world-wide semiconductor shortage on the auto maker's production. The company said Thursday it will add to scheduled downtime at seven plants in the U.S., Canada and Mexico. The move builds upon curtailments that have slammed GM and the broader auto industry throughout the year as supply constraints on computer chips continue to hold back car production.\" Source: (20217) Grossman, Matt. "GM Plans to Idle Factories Longer Amid Chip Shortage" Wall Street Journal, Sep 16, 2021. Which of the following Supply and Demand model analyses best represents how the shortage of semiconductor chips has affected the market for new automobiles? P Graph A P GraphC 1 1 I 1 1 1 Q Q a Q; Q Q Q% 0 Q GraphF P Graph B P Graph D P S 5 s
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