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2. (a) European countries like Germany get a lot of natural gas from Russia. If Russia stops supplying natural gas to Europe due to the
2. (a) European countries like Germany get a lot of natural gas from Russia. If Russia stops supplying natural gas to Europe due to the war in Ukraine, then will this represent a shift of the supply curve of natural gas or a movement along the supply curve of natural gas.
(b) What will happen to the market equilibrium price of natural gas in Europe if Russia stops supplying natural gas to Europe? Please explain.
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