rebecca7415
09.11.2020 •
Business
A shift of the supply curve of oil raises the price from $10 a barrel to $15 a barrel and reduces the quantity demanded from 40 million to 15 million barrels a day. You can conclude that the .
A. demand for oil is inelastic
B. demand for oil is elastic
C. supply of oil is elastic
D. supply of oil is inelastic
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Ответ:
Option B: demand for oil is elastic
Explanation:
Price elasticity of demand is generally note to be the magnitude (degree) responsiveness of quantity demanded of goods/services to a change in price of goods and services.
A demand for goods and services is said to be elastic if the demand by consumer is relatively sensitive to changes in price.
The long-run demand for oil is usually elastic than the short run demand for oil.
Ответ:
Because the opposite sides are congruent, so are the angles.
4x+20=40
subract 20 from both sides
4x=20
divide by 4 on both sides
x=5