Multiple Choice
If the price of oil, a close substitute for coal, increases then the
A) supply curve for coal will shift to the right.
B) demand curve for coal will shift to the right.
C) equilibrium price and quantity of coal will not change.
D) demand curve for coal will shift to the left.
E) supply curve of coal will shift to the left.
Correct Answer:
Verified
Correct Answer:
Verified
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