the first photo has the question and the first graph the 2nd picture is the rest of the graph. thank you ?
i. The demand curve remains constant, supply curve shifts to the right (increases) as oil reserves are discovered. The price of oil falls and quantity increases. Massive oil reserves will increase supply of oil.
ii. Demand curve shifts to the left as demand for oil falls. Supply curve remains same. The equilibrium price and quantity fall.
iii. Demand curve shifts to the left as demand for oil falls due to fall in consumer income . Supply curve remains same. The equilibrium price and quantity fall.
iv. Demand curve remains the same. Supply curve shifts to the left ( falls), the equilibrium price rises and quantity falls.
v The demand curve remains constant, supply curve shifts to the right (increases) as cost of production falls. The price of oil falls and quantity increases.
the first photo has the question and the first graph the 2nd picture is the rest...
Please fill in graph 34. Consider the following events (i) through (X). Decipher how each event will influence the world demand and supply of oil (shin len, shin right, or no shift) and resulting impact on the price of oil (up or down). Provide a brief (one sentence) reason why - i.e. what determinants of supply or demand are changing to cause the resultant effect? If the answer is not clear, say so. (5 pts each) (Tip: A demand and...
34. Consider the following events (i) through (x). Decipher how each event will influence the world demand and supply of oil (shin len, shift right, or no shin) and resulting impact on the price of oil (up or down). Provide a brief (one sentence) reason why -1e. what determinants of supply or demand are changing to cause the resultant effect? If the answer is not clear, say so. (5 pls each) (Tip: A demand and supply diagram for the oil...
Please fill in the graph that's what I need help with 34. Consider the following events (i) through (x). Decipher how each event will influence the world demand and supply of oil (shift ich, shin right, or no shint) and resulting impact on the price of oil (up or down) Provide a brief (one sentence) reason why-i.c. what determinants of supply or demand are changing to cause the resultant effect? If the answer is not clear, say so. (5 pts...
macroeconomics please help 34. Consider the following events (i) through (x). Decipher how each event will inluence the world demand and supply of oil (shift left, shift right, or no shift) and resulting impact on the price of oil (up or down) Provide a brief (one sentence) reason why - i.e. what determinants of supply or demand are changing to cause the resultant effect? If the answer is not clear, say so. (5 pts cach) (Tip: A demand and supply...