This is the question EXACTLY as my instructor has proposed it: US coal mining surges in 2017 following last year's record decline Associated Press, June 26, 2017 The United States, China, and India, the world’s largest coal users, have increased coal mining this year by 6 percent following 2016’s record global decline. Among the three countries, production through May is up by at least 121 million tons compared to the same period last year, according to data reviewed by The Associated Press. Despite the increase in production, international coal prices remained stable according to the U.S. Department of Energy. The reasons for this year's turnaround include prospects for policy shifts in the major producing countries and a push by China and India to use coal to provide electricity to more of it's poor, industry experts said. (A) (i) Below, depict the coal market correctly labeling both axes and placing the “2016” on the supply curve and the demand curve; (ii) depict the equilibrium price and quantity for 2016;”, and (iii) indicate who are the demanders in the market and who are the suppliers. (DRAW A MARKET HERE) (B) From the article above, write the sentence that indicates the change in quantity exchanged between 2016 and 2017. (C) In the graph above in (A) shift supply and/or demand as appropriate from information in the article identifying the new curve(s) with the subscript “2017” and moving the curves consistent with your answers in (B) and (C). (E) If demand changed state why. If supply changed state why.
This is the question EXACTLY as my instructor has proposed it:
US coal mining surges in 2017 following last year's record decline
Associated Press, June 26, 2017
The United States, China, and India, the world’s largest coal users, have increased coal mining this year by 6 percent following 2016’s record global decline. Among the three countries, production through May is up by at least 121 million tons compared to the same period last year, according to data reviewed by The Associated Press. Despite the increase in production, international coal prices remained stable according to the U.S. Department of Energy. The reasons for this year's turnaround include prospects for policy shifts in the major producing countries and a push by China and India to use coal to provide electricity to more of it's poor, industry experts said.
(A) (i) Below, depict the coal market correctly labeling both axes and placing the “2016” on the supply curve and the demand curve; (ii) depict the
(B) From the article above, write the sentence that indicates the change in quantity exchanged between 2016 and 2017.
(C) In the graph above in (A) shift supply and/or demand as appropriate from information in the article identifying the new curve(s) with the subscript “2017” and moving the curves consistent with your answers in (B) and (C).
(E) If demand changed state why. If supply changed state why.
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