Use the Following to Answer Questions

question 88

Multiple Choice

Use the following to answer questions:
Figure: The Demand Curve for Oil
-(Figure: The Demand Curve for Oil) Look at the figure The Demand Curve for Oil. Demand is price _____ between $20 and $21, since total revenue _____ when the price _____.

• A) elastic; increases; decreases
• B) inelastic; stays the same; decreases
• C) elastic; decreases; increases
• D) inelastic; increases; increases

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Definitions:

Minority Candidate

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Contingent Employment

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a serious disagreement or argument, typically a protracted one between individuals, groups, or nations.