Multiple Choice
Suppose the price of oil has recently increased, making it more expensive to manufacture ride-on lawn mowers. This oil price increase also makes it more expensive to run a ride-on mower. What factors of demand and/or supply are affected by the changing price of oil?
A) Price of related good, expectations of future prices
B) Price of related good, price of input
C) Price of input, income
D) Price of input, number of buyers
Correct Answer:
Verified
Correct Answer:
Verified
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