Many Public Utilities Burn Oil to Generate Electricity

question 85

Essay

Many public utilities burn oil to generate electricity.If the price of oil increases, we would expect there to be:
A.a shift to the right in the supply curve of electricity and a lower price for electricity.
B.a shift to the left in the supply curve of electricity and a higher price for electricity.
C.a shift to the right in the demand curve for oil and a higher price for electricity.
D.a shift to the left in the demand curve for oil and a lower price for electricity.

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Definitions:

Note Receivable

A written promise that one party will pay another party a specified sum of money, either on demand or at a set future date.

Interest Due

The amount of interest payment required to be paid on a loan or debt at a specified date.

Maturity Value

The amount that will be received at the maturity date of a financial instrument, typically including the principal and the interest.

Note Receivable

A financial asset representing a written promise to receive a specific amount of money, plus interest, from another party at a future date.