Question

According to the video, a pipeline rupture has had an effect on the price of fuel. in economic theory, this represents the ____ curve, and cost increases shift this curve _____.

Answer 1

A pipeline structure .................... In economic theory, the represents the SUPPLY curve and cost increases shift this curve LEFTWARD.
The supply curve refers to a graphical representation that shows the relationship between the price and the quantity of goods a producer produce and supply. A typical supply curve slope upward from left to right. As the price of a product rises the quantity supply rises and as the price of a product drops, the quantity supply also drop.