A recent news story reported that the Organization of Petroleum Exporting Countries is expected to decrease the supply of oil next summer. Summer is traditionally a time of increased demand for oil because of vacation travel. What would be the combined effect of these two events on the summer market for gasoline? a. an increase in the price and the quantity. b. an increase in the price and an un-predictable change in the quantity. c. an un-predictable change in both the price and the quantity. d. an un-predictable change in the price and a decrease in the quantity.
+4
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A recent news story reported that the Organization of Petroleum Exporting Countries is expected to decrease the supply of oil next summer. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » A recent news story reported that the Organization of Petroleum Exporting Countries is expected to decrease the supply of oil next summer. Summer is traditionally a time of increased demand for oil because of vacation travel.