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The demand and supply curves for the specific country pertain solely to domestic supply and demand, with imports not factored into supply and exports not
The demand and supply curves for the specific country pertain solely to domestic supply and demand, with imports not factored into supply and exports not considered part of demand. A significant advancement in battery technology has led to a remarkable decrease in cost and a twofold increase in the distance electric vehicles can travel before needing to be recharged. Conseqguently, electric vehicles equipped with this innovative technology are swiftly replacing gasoline-powered vehicles in both the United States and Europe. Kindly indicate the impact of this situation on the shift of either the demand curve or the supply curve for each item below. U.5. demand curve for crude o1l U.5. supply curve for crude o1l World crude oil prices U.S.crude oil prices World o1l consumption Shifts Right/Shifts Left/ Remains Unchanged Explanation T.5. oil consumption T.5. oil net imports ___________________________________________________________________________________
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