question archive suppose that the short run world demand and supply elasticities for crude oil are -0
suppose that the short run world demand and supply elasticities for crude oil are -0
Subject:EconomicsPrice:2.84 Bought6
suppose that the short run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. the current price per barrel is $30 and short run equilibrium quantity is 23.84 billion barrels per year. derive the linear demand and supply equations.
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