Question: Supply (10 points) Answer the questions, drag and drop the arrow (adjust direction using the toggle that appears after left-clicking it) and demand curve labels.

Supply (10 points) Answer the questions, drag and drop the arrow (adjust direction using the toggle that appears after left-clicking it) and demand curve labels. 1) An oil well explodes in the Gulf of Mexico. What will happen to our supply of oil as a result? Consumer item analyzed in this scenario: Supply increase or decrease? Supply Increase Supply Decrease Reason {RO'ITEN) for the shift in the supply curve: Price $1 52 Quantity 2) The government passes a new tax on fast food that takes effect immediately. What will be the impact on the fast-food market? Consumer item analyzed in this scenario: Supply increase or decrease? Supply Increase Supply Decrease Reason {RO'ITEN) for the shift in the supply curve: PkE 51 52 Quantity

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