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Home Q & A Board Other Fields Homework Help Business Economics
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DragoxCM16 DragoxCM16
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4 years ago
The following diagram shows the demand for and supply of oil. The supply and demand curves are initially given by S0 and D0. The market is in equilibrium at point x. There is then a recession accompanied by political tensions in certain oil producing countries that adversely affect oil production. As a result either or both the demand and supply curves shift to one of the new positions shown in the diagram. What will be the equilibrium position on the diagram?



▸ Point r

▸ Point n

▸ Point p

▸ Point m
Textbook 
Essential Economics for Business

Essential Economics for Business


Edition: 5th
Authors:
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vvnluuvvnluu
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4 years ago
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DragoxCM16 Author
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4 years ago
You make an excellent tutor!
jamesbove
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
missnoname
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2 hours ago
Thank you, thank you, thank you!
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