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rhialways659 rhialways659
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A year ago

The three diagrams below each show a supply curve for oil tankers over a relatively short period of time.

Short description: Three graphs plot Q against P. Long description: In each graph, the horizontal axis represents Q and the vertical axis represents P. The first graph shows a horizontal line, S which is at a mid-price range. The second graph shows an increasing line, S. It begins at a point near the horizontal axis, next to the origin, and ends at a point near the top-right of the graph. The third graph shows an increasing curve, S. The curve begins at a point, a little above the origin, and ends at a point near the top-right of the graph.

FIGURE 13-3

Refer to Figure 13-3. Consider the supply of oil tankers to an individual Canadian shipping firm, the North American shipping industry, and the world shipping industry. Which diagram best shows the supply of oil tankers that is relevant to an individual Canadian firm?



▸ diagram 1

▸ diagram 2

▸ diagram 3

▸ diagrams 2 or 3

▸ diagrams 1 or 2
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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culwri204culwri204
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A year ago
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