find new story about change in the price of some goods or services. 1- how might that price change be explained by change in supply or in demand, which direction would supply or demand.2- what does th...
find new story about change in the price of some goods or services. 1- how might that price change be explained by change in supply or in demand, which direction would supply or demand.2- what does the article suggest about the causes of the price change? 2-is the article consistent with what you know about supply and demand.
Homework Answers
Ans
The news is
Oil prices fall after US crude inventories swell, output jumps
Well here price fell since supply shifted rightwards as more was produced at each price
The cause is increase in usa oil production
Yes it is consistent since rightward shift in supply decreases price according to economics
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find new story about change in the price of some goods or services. 1- how might that price change be explained by change in supply or in demand, which direction would supply or demand.2- what does th...
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