Please align the letter with the closest related scenario that would allow for a similar action to occur in the shifting of the supply or demand curves as shown below. Improved technology in current product that the market was anxiously awaiting. ________   Vehicles increasing MPG from 20MPG to 40MPG, as it relates to gasoline usage. ________   Technology that allows for easier extraction of oil. ________   Increase in cost of materials to the seller. ________

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Please align the letter with the closest related scenario that would allow for a similar action to occur in the shifting of the supply or demand curves as shown below.

Improved technology in current product that the market was anxiously awaiting. ________
 
Vehicles increasing MPG from 20MPG to 40MPG, as it relates to gasoline usage. ________
 
Technology that allows for easier extraction of oil. ________
 
Increase in cost of materials to the seller. ________
 
                                                                        
Price
P* increases
Price
P* Decreases
Increase in Demand
Q* Increases
(Panel A)
Increase in Supply
Q* Increases
(Panel C)
A
Quantity
C
Quantity
Price
P* Decreases
Price
P* increases
←
Decrease in Demand
Q* Decreases
(Panel B)
Decrease in Supply
Q Decreases
(Panel D)
B
Quantity
D
Quantity
Transcribed Image Text:Price P* increases Price P* Decreases Increase in Demand Q* Increases (Panel A) Increase in Supply Q* Increases (Panel C) A Quantity C Quantity Price P* Decreases Price P* increases ← Decrease in Demand Q* Decreases (Panel B) Decrease in Supply Q Decreases (Panel D) B Quantity D Quantity
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