Exhibit 3-5
-Refer to Exhibit 3-5 for the demand and supply model of the world oil market (in millions of barrels per day).
(A)Is there a shortage or surplus of oil at a price of $18.00 per barrel? Why? What is the quantity of shortage or surplus? (

Question

Exhibit 3-5 
-Refer to Exhibit 3-5 for the demand and supply model of the world oil market (in millions of barrels per day).
(A)Is there a shortage or surplus of oil at a price of $18.00 per barrel? Why? What is the quantity of shortage or surplus? (

Quizplus · Accepted Answer

The Answer of Exhibit 3-5 
-Refer to Exhibit 3-5 for the demand and supply model of the world oil market (in millions of barrels per day).
(A)Is there a shortage or surplus of oil at a price of $18.00 per barrel? Why? What is the quantity of shortage or surplus? (

Exhibit 3-5 -Refer to Exhibit 3-5 for the Demand and Supply Model