Show the short-run impact of this oil price shock by dragging the curve to the appropriate position?

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oil price
Da.Drama.King asked:


The graph below shows the short-run aggregate supply curve for the United States. Suppose Iran, the world’s second largest oil exporter, severely curtails oil production — leading to a sharp increase in oil prices. Show the short-run impact of this oil price shock by dragging the curve to the appropriate position.

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    • This entry was posted on Tuesday, April 13th, 2010 at 11:09 pm and is filed under oil prices. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    No Responses to “Show the short-run impact of this oil price shock by dragging the curve to the appropriate position?”

    1. Bored Goblin Says:
      April 15th, 2010 at 12:44 pm

      drag supply curve up or left.