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

Verified
Correct Answer:
Verified
Q118: A decrease in the price of gasoline
Q119: If orange juice prices fall by 25
Q120: Demand curves can be affected by the
Q121: A shortage occurs when price is higher
Q122: Rent controls encourage investment in housing because
Q124: Higher steel prices will result in a
Q125: Price controls usually enhance efficiency in the
Q126: Computer processors and memory costs have decreased
Q127: Price floors are only effective below the
Q128: A change in the price of hamburgers