Multiple Choice
The rising price of oil has made it feasible to extract oil out of oily sand in Canada.Concerning the oil market this is an example of
A) a higher price elasticity of supply in the long run.
B) a higher price elasticity of supply in the short run.
C) a higher price elasticity of demand in the short run.
D) an inelastic long-run supply of oil.
Correct Answer:
Verified
Correct Answer:
Verified
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