-The Above Figure Shows the Market for Oil

Multiple Choice

-The above figure shows the market for oil. Because of the development of a new deep sea drilling technology the

A) demand curve does not shift, and the supply curve shifts from S₂ to S₁.
B) demand curve shifts from D₁ to D₂ and the supply curve does not shift.
C) demand curve shifts from D₁ to D₂ and the supply curve shifts from S₁ to S₂.
D) demand curve does not shift, and the supply curve shifts from S₁ to S₂.