This report provides an analysis of Toyota, a multinational automobile company, focusing on the demand and market equilibrium for its products, particularly the Toyota Prius. It explores how factors such as price, consumer income, tastes, and demographics influence the demand for luxury cars. The report also discusses the concept of elasticity of demand, examining how changes in price and income affect consumer behavior in the context of luxury goods. It concludes that the demand for Toyota's luxury cars is relatively inelastic, as it is less sensitive to price changes and more influenced by factors like consumer income and preferences. Desklib is a platform where you can find past papers and solved assignments related to economics and management.