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Suppose that oil prices rise sharply for years as a result of a war in the Middle East. Illustrate with a diagram what happens to the: (1 mark each) Demand for automobiles? Demand for home insulation?...

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Suppose that oil prices rise sharply for years as a result of a war in the Middle East. Illustrate with a diagram what happens to the: (1 mark each) Demand for automobiles? Demand for home insulation? Demand for coal? Demand for tyres? Demand for bicycles?
Answered Same Day Dec 23, 2021

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David answered on Dec 23 2021
134 Votes
Suppose that oil prices rise sharply for years as a result of a war in the Middle East. Illustrate with a diagram what happens to the: (1 mark each)
Demand for automobiles?
As automobile an oil are complementary the demand for automobiles will fall—left shift of demand curve.
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