As a result of increased tensions in the middle east oil, Ask an Expert

Economics

As a result of increased tensions in the Middle East, oil production is down by 1.2 million barrels per day-a 5 percent reduction in the world's supply of crude oil. Explain the likely impact of this event on the market for gasoline and the market for small cars.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9306675

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