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What effect will the following have on the market for small automobiles such as the Mini-Cooper and Fiat 500? Income declines and small autos are

What effect will the following have on the market for small automobiles such as the Mini-Cooper and Fiat 500? Income declines and small autos are aninferior good.

Make sure you label the initial P and Q and the resulting P and Q.

Label axes clearly.

What happens to the equilibrium price of small cars?

What happens to the equilibrium quantity?

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