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Supply and Demand Currently, there are Supply Chain issues involving products across the United States. Commercial Gas Stations are facing those problems as deliveries are
Supply and Demand Currently, there are Supply Chain issues involving products across the United States. Commercial Gas Stations are facing those problems as deliveries are delayed due to complications in the trucking industry. Those problems have forced those Commercial Gas Stations to increase gasoline prices for consumers. 1. Do these Supply Chain issues shift the Supply Curve or the Demand Curve? Explain the shift in detail making sure to explain which curve shifted, how it shifted, and which determinant caused the change. 2. The Commercial Gas Stations paid for the delivery but who ultimately pays for those increased shipping costs? Explain in detail using the concepts of Supply and Demand in your explanation. 3. Would increasing imports of oil from OPEC* help relieve the price increases? Explain in detail using the concepts of Supply and Demand in your explanation. OPEC is the Organization of Petroleum Exporting Countries. It includes 13 Oil Producing Countries that coordinate oil production, exporting, and prices
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