On March 2003, the Iraq War was broken out. The number of tourists traveling to the Middle East fell drastically. At the same time, the oil price raised a lot. What is the diagrams about the air services to and from the Middle East?
The price will reduce,
how's the supply curve $ demand curve?
shift to left/right?
please explain the answer,thank you very much!
URGENT!!Econ
2007-07-16 8:21 am
回答 (3)
2007-07-17 5:40 am
✔ 最佳答案
Iraq War was broken out,so demand to Middle East decreases.The demand curve shift to the left.The oil price raised a lot,so supply for the air services decrease.The supply curve shift to the left.
Demand decrease,price decrease.
Supply decrease,price increase.
Now,the price will reduce which means demand decrease more than supply.
2007-07-16 9:48 pm
1) airline service to and from Middle east
demand curve shift left---- since the number of tourists decrease.
supply curve shift left---- oil price increase so does cost of airline industry.
outcome: if the magnitude of both effects are same. Then the price of the airline service unchange and the output of airline service in middle east decrease.
wish i'm correct
demand curve shift left---- since the number of tourists decrease.
supply curve shift left---- oil price increase so does cost of airline industry.
outcome: if the magnitude of both effects are same. Then the price of the airline service unchange and the output of airline service in middle east decrease.
wish i'm correct
參考: myself
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