quick question (1 Viewer)

[martin310015]

using basic supply and demand analysis, explain the effects on the price of oil e.g. having mass production of smaller, more fuel efficient cars rather than larger cars...thanx

 

[AGB]

a decrease is supply and a contraction in demand....this results in an increase in price and a decrease in the quantity of goods produced

 

[martin310015]

thanx that helped