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What is wrong with the following diagram of the short-run effect of a fall in the price of oil? Description of diagram is below the
What is wrong with the following diagram of the short-run effect of a fall in the price of oil? Description of diagram is below the diagram. This is a diagram with price on the vertical axis and quantity on the horizontal axis. There is an AD curve that slopes down and an SRAS1 curve that slopes up. Where the two curves intersect, there is a P1 marked on the vertical axis and a Q1 marked on the horizontal axis. There is a curve labelled SRAS2 that slopes up and is to the left of the SRAS1 curve. Where this SRAS2 curve intersects the AD curve, there is a Q2 on the horizontal axis and a P2 on the vertical axis. Q2 is to left of Q1 and P2 is above P1. Group of answer choices Instead of the SRAS curve shifting, the AD curve should shift right. Instead of the SRAS curve shifting, the AD curve should shift left.. Nothing. The SRAS should shift right
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