-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:

Dividends

Payments made by a corporation to its shareholder members, distributing profits.

Revised Model Business Corporation Act

An influential model law that suggests legal standards and practices for the formation, operation, and dissolution of corporations in the United States.

Book Value

The net value of a company's assets minus its liabilities and preferred stock, reported on the balance sheet.

Legal Asset Distributions

The process of dividing and distributing a company's assets to shareholders, creditors, or heirs following legal rules.