Question 3 What effect should each of the following have on the supply for petrol in a competitive market? State whether

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Question 3 What effect should each of the following have on the supply for petrol in a competitive market? State whether

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Question 3 What Effect Should Each Of The Following Have On The Supply For Petrol In A Competitive Market State Whether 1
Question 3 What Effect Should Each Of The Following Have On The Supply For Petrol In A Competitive Market State Whether 1 (54.44 KiB) Viewed 9 times
Question 3 What effect should each of the following have on the supply for petrol in a competitive market? State whether it is a change in supply or change in quantity. Explain your reason in each case and relate it to a supply determinant. a. an increase in the price of cars b. government reduces the subsidies given to the producers of petrol. c. Expected price of oil decrease due to pandemic covid-19. d. crude oil price increases
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