Table 5-11 -Refer to Table 5-11. Which Scenario Describes the Market for the Market

Multiple Choice

Table 5-11
-Refer to Table 5-11. Which scenario describes the market for oil in the short run in comparison to the long run?

A) Scenario A describes both the short run and the long run.
B) Scenario D describes both the short run and the long run.
C) Scenario D describes the short run, whereas scenario A describes the long run.
D) Scenario C describes the short run, whereas scenario B describes the long run.