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Cities before and after the automobile

Exploring the impact of changing consumer demands, preferences, and technologies on city transportation markets. Analyzing market equilibrium shifts due to shifts in income, tastes, and related goods.

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Cities before and after the automobile

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  1. Cities before and after the automobile

  2. Review Demand and Demand Shifters • Market (change in # of consumers) • Tastes and preferences • Income • Related goods - substitutes • Related goods - complements • Expectations* P D1 D2 D0 Q

  3. Review Supply and Supply Shifters • Technology • Taxes • Input prices • Competition • Expectations P S2 S0 S1 Q

  4. Review Market Equilibrium What happens to equilibrium price and quantity when: • Demand increases? • Demand decreases? • Supply increases? • Supply decreases? P Peq S0 D0 Qeq Q

  5. Sample Demand Shifter Market/# of consumers • If more Americans decide to live in cities and use public transportation, what will happen in the auto market? P Peq S0 D0 Qeq Q

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