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B. Let say that there is a new technology for shale oil extraction that causes production cost of shale oil to decline. The new marginal
B. Let say that there is a new technology for shale oil extraction that causes production cost of shale oil to decline. The new marginal cost for shale oil producers is given below: 8. Find the new critical price 9. Find the new critical quantity 10. Find the new market price MCSHALE 30+QS.SHALE 11. Find the new market quantity supplied by OPEC 12. Find the new market quantity supplied by Shale oil producers 13. Find the profit of OPEC 14. Find the profit of Shale oil producers Hackboard
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