An Increase in Demand for Oil Along with a Simultaneous

question 308

Multiple Choice

An increase in demand for oil along with a simultaneous increase in supply of oil will

• A) decrease price and increase quantity.
• B) increase price and decrease quantity.
• C) increase quantity, but whether it increases price depends on how much each curve shifts.
• D) increase price, but whether it increases quantity depends on how much each curve shifts.

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