Shortage of opec oil raises oil prices
Problem: A shortage of OPEC oil raises oil prices because of:
A) the law of elastic supply.
B) the law of elastic demand.
C) the downward-sloping demand curve.
D) all of the above.
E) none of the above.
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Problem: A shortage of OPEC oil raises oil prices because of: A) the law of elastic supply. B) the law of elastic demand. C) the downward-sloping demand curve. D) all of the above. E) none of the above.
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