❓ The Leader of the Opposition questions the Premier about iron ore export volumes and potential market share loss to other countries. The Premier dismisses the question, asserting the Leader of the Opposition's understanding of supply and demand is incorrect.
AnsweredQoN 774Legislative Assembly
QuestionView source ↗
IRON ORE EXPORT VOLUMES — PREMIER'S
COMMENTS
774. Mr M. McGOWAN to the Premier:
I ask a supplementary question. Is
it not the case that if Western Australian suppliers of iron ore do not
increase their volumes, that slack will be taken up by suppliers in Brazil,
central Asia or Africa? Whose side is the Premier on?
COMMENTS
774. Mr M. McGOWAN to the Premier:
I ask a supplementary question. Is
it not the case that if Western Australian suppliers of iron ore do not
increase their volumes, that slack will be taken up by suppliers in Brazil,
central Asia or Africa? Whose side is the Premier on?
AnswerView source ↗
I wish I had a whiteboard; I would do a little supply and
demand diagram for the Leader of the Opposition. Slack in the market implies
excess demand. There is not excess demand; there is excess supply. The Leader
of the Opposition is 100 per cent wrong.
demand diagram for the Leader of the Opposition. Slack in the market implies
excess demand. There is not excess demand; there is excess supply. The Leader
of the Opposition is 100 per cent wrong.
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