Explain the effect of each of these events on the market


Problem

The following events occur one at a time:

(i) The price of crude oil rises.

(ii) The price of a car rises.

(iii) All speed limits on highways are abolished.

(iv) Robots cut car production costs.

Explain the effect of each of these events on the market for gasoline.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Explain the effect of each of these events on the market
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