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:

Executive Compensation

This refers to the financial payments and other non-monetary benefits provided to high-level management and executives in a company, including salaries, bonuses, stock options, and other perks.

Shareholder Value

The financial worth delivered to shareholders, typically measured by the increase in share price and dividends paid over time.

Capital Adequacy Ratio

A measure of a bank's capital, used to protect depositors and promote stability and efficiency in financial systems.

Invested Capital

Represents the total amount of money that shareholders and debt holders have invested in a company.