Answer:
Explanation:
Base on the scenario been described in this question, we can use the following method to be solve the question below using Microsoft word we have the solution in the image attached file below
The father of modern russia taxed wearers of these in 1705. only orthodox clergy were exempt from the tax. what was being taxed?
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Answer:
As a result of the political unrest in Libya, the supply of oil would fall, As a result the supply curve would shift to the left. This would lead to fall in equilibrium quantity and a rise in price.
The increased demand for oil would shift the demand curve to the right. The equilibrium price and quantity would increase
Taking these two effects together, equilibrium price would rise and there would be an indeterminate effect on equilibrium quantity
Please check the attached image for a graph showing these shifts
b. As a result of the change in supply, supply would increase. This would increase equilibrium quantity and equilibrium price would fall. in addition with the increase in demand for oil, equilibrium quantity would rise and there would be an indeterminate effect on equilibrium quantity
Explanation:
