-The Above Figure Shows the Demand Curve for Crude Oil

question 90

Multiple Choice

-The above figure shows the demand curve for crude oil.Suppose the price is currently $7.A supply shock suddenly raises the price to $9.What happens with the crude oil sales revenue?

• A) Crude oil sales revenue stays the same.
• B) Crude oil sales revenue declines by more than $300.
• C) Crude oil sales revenue increases by more than $250.
• D) Crude oil sales revenue increases by less than $250.

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Definitions:

Founding Of Georgia

The establishment of the U.S. state of Georgia in 1732, the last of the original Thirteen Colonies, founded by James Oglethorpe as a debtor's colony.

British Debtors

refers to individuals in Britain or its colonies who owed debts, often leading to their imprisonment or transportation to penal colonies before modern bankruptcy laws were established.

Prison Terms

The specified lengths of time during which an individual is required to be incarcerated following a criminal conviction.

Slave Resistances

Acts of defiance or rebellion by enslaved people against their conditions and slaveholders, ranging from work slowdowns to armed uprisings.