Suppose the diagram below represents the world market for oil. Toyota develop an efficient and affordable nuclear powered car that gains acceptance around the world. The impact on the oil market is to shift equilibrium price to and equilibrium quantity to Price supply P21 P11 demand Q1¶ Q2 Quantity Select one: а. Р1; Q1. O b. P1; Q2. Oc. P2; Q1. d. P2; Q2.

Suppose the diagram below represents the world market for oil. Toyota develop an efficient and affordable nuclear powered car that gains acceptance around the world. The impact on the oil market is to shift equilibrium price to and equilibrium quantity to Price supply P21 P11 demand Q1¶ Q2 Quantity Select one: а. Р1; Q1. O b. P1; Q2. Oc. P2; Q1. d. P2; Q2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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