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Aug 24, 2023
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[GET ANSWER] The graph above shows the demand for oil by United States residents, the supply of oil by United States producers, and the world price of oil. Use the labeling of the graph to answer the following questions.(a) Identify the following before international trade occurs.(i) Price of oil in the United States market(ii) Quantity of oil produced in the United States(b) Now assume that the United States begins to import oil at the world market price of Pw. Identify the quantity imported by
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