About air safety cause travelers to shy away from air travel

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Reference no: EM13869070

Using diagrams show what changes in price and quantity would be expected in the following markets under the scenarios given:

A) Crude oil: As petroleum reserves decrease, it becomes more difficult to find and recover crude oil.

B) Air travel: Worries about air safety cause travelers to shy away from air travel.

C) Rail travel: Worries about air safety cause travelers to shy away from air travel.

D) Hotel rooms in Hawaii: Worries about air safety cause travelers to shy away from air travel.

E) Milk: A genetically engineered hormone enables large milk producers to cut production costs.

Reference no: EM13869070

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