Describe the rise or fall in the equilibrium price

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Reference no: EM13759591

Familiarize you with supply and demand graph. For these scenarios, barrels of oil are represented along the horizontal x-axis; price per barrel of oil is represented along the vertical y-axis.

Your task is to interpret each graph by stating the following:

Describe the rise or fall in the equilibrium price and quantity.
Describe the factors that may have caused the supply or demand curve to shift to the left or right.
Please identify which determinant or determinants of demand or supply would have accounted for a shift in the supply or demand curve.

Graph 1

Graph 2

Graph 3

Graph 4

Graph 5

Reference no: EM13759591

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