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On April 20, 2010 an oil-drilling platform owned by British Petroelum exploded in the gulf of mexico, causing oil to leak into the gulf at estimates of 1.5 to 2.5 million gallons per day fro well over two months. Due to the oil waters. which has devatated the commercial fishing industry in the area. describe how the reduction in supply from the reduced fishing waters will either increase or decrease consumer surplus and producer surplus, and show these changes graphically.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M948432

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