User Account

All Pages

Various technological advancements

Assignment Help Business Economics
Reference no: EM132491956

Over the past few years, the supply of oil and gas has been increasing because of various technological advancements. However, because of the COVID-19 pandemic, the demand for oil and gas has decreased dramatically since there has been less far fewer cars on the road, less air traffic, and less production. Using your understanding of supply and demand, explain what is likely to happen to the equilibrium price and quantity of oil and gas because of these two events. Be sure to graph the supply and demand showing the before and after curves- and before and after equilibrium points.

Reference no: EM132491956

Questions Cloud

What information does provide the morningstar style box : What information does provide the Morningstar Style Box? Explain what are the main advantage and disadvantage of investing in mutual funds or ETFs
What circumstances the tax will be shared by the buyers : Indicate under what circumstances the tax will be shared by the buyers and the sellers of soft drinks.
Why would countries promote protectionist laws : Why would countries promote protectionist laws, while also negotiate for freer trade internationally?
How trade barriers save jobs in protected industries : Explain how trade barriers save jobs in protected industries, but only by costing jobs in other industries.
Various technological advancements : Over the past few years, the supply of oil and gas has been increasing because of various technological advancements.
How you maintaining standard of care for assigned patients : The following position is advertised on a career Web site: RN I Surgical Job Travel Involved: None. Job Type: Full-Time. Job Level: Minimum Education Required.
How can there be any economic gains for a country : How can there be any economic gains for a country from both importing and exporting the same good, like cars?
What are two critical factors influencing facility location : 1. What are business clusters? Provide an example of a business cluster in the United States.
What should be centralized and what should be decentralized : What should be centralized and what should be decentralized? How should activities be grouped? (e.g. by activity? by discipline? Etc)

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd