Question: Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in
Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and price of in equilibrium will be affected:
a)Although long-term damage of Hurricane Harvey was limited, short-term outages at gasoline refineries temporarily shuttered more than 10% of the nation's refining capacity in 2017, according to data from JBC Energy and Goldman Sachs. What happened to the equilibrium price and quantity of gasoline due to this event?
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