Why Is the Supply of Oil More Price Elastic in the Long

question 23

Multiple Choice

Why is the supply of oil more price elastic in the long run?

• A) New deposits are found.
• B) Better extraction technology is developed.
• C) Firms have the ability to change the amount of all inputs.
• D) All of the above.

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Definitions:

Electromyography

A procedure in which needle electrodes are inserted into some of the skeletal muscles and a monitor records the nerve impulses and measures conduction time; used to detect neuromuscular disorders or nerve damage.

Electrotherapy

A medical treatment using electric currents to stimulate nerves and muscles, promoting healing and reducing pain.

Electropathology

A branch of medicine that deals with the effects and treatment of abnormal electrical activity in the body.

Intravenous (IV) Procedures

Medical treatments administered directly into a vein, commonly for hydration or medication delivery.