This assignment will familiarize you with supply and demand graph. In a 1 to 2 page paper, describe each of the graphs using the criteria below. For these scenarios, barrels of oil are represented along the horizontal x-axis; price per barrel of oil is represented along the vertical y-axis.
Your task is to interpret each graph by stating the following:
· Describe the rise or fall in the equilibrium price and quantity.
· Describe the factors that may have caused the supply or demand curve to shift to the left or right.
· Identify which determinant or determinants of demand or supply would have accounted for a shift in the supply or demand curve.
Please review the document enclosed here:
Attachment:- Price and quantity.rar