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Author Question: The following diagram shows the demand for and supply of oil. The supply and demand curves are ... (Read 319 times)

skymedlock

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on: May 25, 2020
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
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by skymedlock on May 25, 2020

kjo;oj

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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skymedlock

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

daiying98

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Reply 3 on: Yesterday
Wow, this really help

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