Graphically, What Impact Would an Increase in the Price of Jet

question 205

Multiple Choice

Graphically, what impact would an increase in the price of jet fuel have on the market for air travel?

• A) It would shift the supply curve for air travel to the right.
• B) It would shift the supply curve for air travel to the left.
• C) It would shift the demand curve for air travel to the right.
• D) It would shift the demand curve for air travel to the left.

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Definitions:

Production

The process of creating goods and services from various inputs like labor, technology, and raw materials.

Pollution

The contamination of the natural environment with harmful substances or energy, leading to adverse effects on living organisms and ecosystems.

Externality

An economic side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in market prices, either positively or negatively.

Steel Industry

A sector of the economy that deals with the production, distribution, and consumption of steel products.