13. For each of the following events in the market for natural gas, identify whether the event causes a movement up the supply curve, a movement down the supply curve, a shift of the supply curve to the left or a shift of the supply curve to the right: Event A new natural gas field has been discovered A war has started in Ukraine, through which natural gas pipelines pass through Price of natural gas has increased Price of oil has increased A new technology to extract natural faster more cheaply has been discovered Impact

13. For each of the following events in the market for natural gas, identify whether the event causes a movement up the supply curve, a movement down the supply curve, a shift of the supply curve to the left or a shift of the supply curve to the right: Event A new natural gas field has been discovered A war has started in Ukraine, through which natural gas pipelines pass through Price of natural gas has increased Price of oil has increased A new technology to extract natural faster more cheaply has been discovered Impact

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 11PA

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