Answer to Question #156708 in Economics for yoo

Question

1. Using a graph of the market for oil (3)  and a graph for a typical company like Dart (3), show how CoVid19 affected total oil production and affected the profits of a typical company. 

Answer 1

Since covid affects all spheres of activity, and in particular the restriction of movement, the demand for oil products has been reduced, that is, the supply, in turn, has also decreased.