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Using demand and supply curves , show the effect of each of the following on the market for Gasoline : (either draw new demand or
Using demand and supply curves, show the effect of each of the following on the market for Gasoline: (either draw new demand or supply curve for each or just state what will happen to the demand or supply curve)
a. A new technology gives a boost to crude oil production.
b. Prices of oil per barrel in international market dropped.
c. There is new stricter law in the state that restricts use of gasoline for energy production.
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