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Please answer this worksheet and describes the shift or condition that affects either supply or demand for each headline? per day Product: Gasoline (for all

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Please answer this worksheet and describes the shift or condition that affects either supply or demand for each headline?

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per day Product: Gasoline (for all headlines below) Indicate how the newspaper headlines that follow affect supply and demand and equilibrium price and quantity. Each headline describes a condition that affects either supply or demand, but not both. The first headline (a) is completed for you. (Note: if the condition described in the headline leaves demand or supply unchanged--write N.C.) Demand Supply Market Price Market Quantity (Consumer) (Producer) a. OPEC nations agree on quotas (cuts production) - Gut Intervention N.C. decidise 11. Economic recovery spreads worldwide- 12. North Sea oil begins to flow- 2 13. New electric engine/car announced (tesla)- Sub good 14. ExxonMobil shuts down all operations- 15. National strike: public transportation shutdown-A consumer change D 13 ET E -7070 lecheare Q QI - increase Q 1 Q Demand: Increase Demand : decrease supply : No change supply . No change price : increase Price : decrease Quantity : increase Quantity decrease producer D producer D SI S Et to E P F to ZINC dec Q -Inc Demand : NO change Demand . No change supply : increase supply : decrease price : decreases Price : Increase Quantity . Increases Quantity . decrease

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