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Explain how the following events will affect the demand and supply curves for large SUVs. In each case explain whether the demand and supply curves will (i) move to the left; (ii) move to the right; or (iii) not move. b. The price of gasoline increases i. (3 points) How will this affect the demand curve for the good listed above

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Answer:

As a result of the increase in price, it would become more expensive to own and fuel a large SUV. this would lead to a reduction in demand for large SUVs. As a result of this, the demand curve for Large SUVs would shift to the left

Explanation:

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