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OPEC cutting back on supply?
OPEC is cutting oil production due to a decrease in demand. So can someone please show me how would you demonstrate that using a supply and demand graph.
Also would should be labeled on the x and y axis.
1 Answer
- Anonymous1 decade agoFavorite Answer
Demand on one axis, supply on the other (doesn't matter which is which).
The line will be a 45 degree straight line (y = x).
Of course, it's not that simple in real life but for your grade 2 assignment this will do!