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Author Question: Hurricane Katrina damaged a large portion of oil refining and pipeline capacity in the Gulf coast ... (Read 66 times)

Starlight

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Hurricane Katrina damaged a large portion of oil refining and pipeline capacity in the Gulf coast states. In the market for gasoline
 
  A) the demand curve shifted to the left resulting in a decrease in the equilibrium price.
  B) the supply curve shifted to the left resulting in an increase in the equilibrium price.
  C) the demand curve shifted to the right resulting in an increase in the equilibrium price.
  D) the supply curve shifted to the right resulting in an increase in the equilibrium price.

Question 2

Refer to Figure 9-4. Under autarky, the producer surplus is area
 
  A) S + V. B) S + T + V + W + X. C) V. D) T + W+ X.



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shewald78

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Answer to Question 1

B

Answer to Question 2

A




Starlight

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


amynguyen1221

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Reply 3 on: Yesterday
Gracias!

 

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