Look at the graph above. Which situation could result in a new equilibrium price of $1.80?

Question

(1 point)
A war causing a disruption in the supply chain of oil
An increase in the price of automobiles (a complementary good)
A new technology that makes electric cars more affordable
New oil supplies found in the Gulf of Mexico

Answer 1

From the given options, the situation that could result in a new equilibrium price of $1.80 is:
- New oil supplies found in the Gulf of Mexico.