What is the effect on price and quantity on flight tickets when the oil price has increased.

When oil price increased, the cost of production for plane company increase and supply will shift left. When supply sift left the price will increase and quantity will decrease.

ML
Answered by Max L. Economics tutor

1555 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is demand and supply in Economics?


What is the impact of a fall in the central bank interest rate on the macroeconomic performance of the UK economy?


Explain a few problems the UK economy has endured or is expected to endure as a result of the Brexit Referendum.


To what extent is the national minimum wage beneficial to society?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2025 by IXL Learning