Business, 16.03.2020 16:58 em6maw

Suppose that the world price of oil is $32 per barrel and that the United States can buy all the oil it wants at this price.

a. Using the line drawing tool, draw a line at the world price of $32 per barrel. Label this line 'PWorld'.
b. Using the point drawing tool, determine quantity supplied at $32 per barrel. Label this point 'Upper P 1'.
c. Using the point drawing tool, determine quantity demanded at $32 per barrel. Label this point 'Upper P 2'.

Carefully follow the instructions above and only draw the required objects.

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Suppose that the world price of oil is $32 per barrel and that the United States can buy all the oil...

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