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decision to buy a new car

The concept of this problem is to make the decision to buy a new car.

"Purchasing a new car"

I like that some OTA help me to find all of the Pros and Cons of making the decision to purchase a new car.

We need to think about macro & microeconomics and any other psychological, sociological or business concepts that may affect the decision.

We need to put the managerial economics concepts into focus....into practical application.

Please be advise that the require concepts must be logical concepts and no from the web site.

Solution Preview

Hello,

The decision to buy a new car can start from the substitutability of a car versus all the other choices. Of course, this utility (satisfaction/need) depends on the individual. The choices can include public transportation, walking, motorcycle, bicycle, car, etc.

Assuming the decision is to buy a car after all, then next comes what kind of car will satisfy the demand of the customer. This question depends on the supply and demand of each particular type of car. For example, is cost a ...

Solution Summary

The decision to buy a new car can start from the substitutability of a car versus all the other choices.

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