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Supply and demand curve for the oil market

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1. Draw a supply and demand curve for the oil market. B) Show what happens when shale oil is developed in North Dakota. What happens to price and quantity? C) Now show what happens when China has a recession. What happens to price and quantity?

2. Draw a supply and demand curve for the fast food workers. Show what happens if there is a minimum wage implemented. What are some possible benefits and harmful effects of minimum wage? Who is helped and who is hurt?

Reference no: EM131376248

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