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AlladinOne [14]
3 years ago
7

Suppose that the cost of refining oil increases from $15 to $25 for each barrel of heating oil produced. assuming that the rest

of the determinants of supply and demand for heating oil remain equal to their initial values, the market will eventually reach a new equilibrium price of
Business
1 answer:
gavmur [86]3 years ago
5 0
The price is 40 dollars because you have to plus it
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Development economics

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Development economics is a field which deals with the problems dealt by low-income countries and low-middle income countries. The focus of development economics is to solve the development problems by using economic tools and to push these low-income countries to start trade with developing or developed countries. Development economics gained popularity, especially after globalisation, because it provided low-income countries with an opportunity to interact with other countries.

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The mathematical technique that is being described in the question is called the center-of-gravity method. Like mentioned in the question this is an business technique that is used by businesses in order to find the best possible geographic coordinates for a single distribution point. This location is calculated by considering the Market's surrounding it, Volume of goods shipped, and Shipping Costs.

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Option C.

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