管理经济学.ppt

Short-run demand: D = 33.6 - .020P Short-run competitive supply: SC = 18.05 + 0.012P total supply is competitive supply plus OPEC supply, which we take as constant at 13 bb/yr Short-run total supply: ST = 31.05 + 0.012P Long-run demand: D = 41.6 - 0.120P Long-run competitive supply: SC = 13.3 + 0.071P Long-run total supply: ST = 26.3 + 0.071P Saudi Arabia is one of the world’s largest oil producers, accounting for roughly 3 bb/yr, which is nearly 10 percent of total world production. What would happen？ short run, simply subtract 3 from short-run total supply: Short-run demand: D = 33.6 - .02