Suppose there is a hurricane that causes oil rigs and refineries in and around the Gulf of Mexico to shut down. This is an example of a ◆ supply shock and, referencing the graph below, is best represented by the shift р S2 S1 X D Download the figure. Q

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Suppose there is a hurricane that causes oil rigs and refineries in and around the Gulf of Mexico to shut down. This is an example of a
◆ supply shock and, referencing the graph below, is best represented by the shift
р
Download the figure.
D
S2
S1
Q
◄►
Transcribed Image Text:Suppose there is a hurricane that causes oil rigs and refineries in and around the Gulf of Mexico to shut down. This is an example of a ◆ supply shock and, referencing the graph below, is best represented by the shift р Download the figure. D S2 S1 Q ◄►
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