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The average price of used cars in the US went up significantlyduring 2020 and 2021...

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Economics

The average price of used cars in the US went up significantlyduring 2020 and 2021 but has decreased over the last 3 year. Trendsindicate that prices are again on the rise. Do some internetresearch to find out what's driving recent price chandes in thatmarket. Discuss these factors in the context of what you learnedabout shifts in demand and supply and their impact on prices. Referto your notes and the book on shift factors (including complementsand/or substitutes) and connect these to your analysis of thatmarket. Examine the situation in the light of both demand andsupply shift factors.

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