The Large Increase in the Elasticity of Supply in Crude

question 41

Multiple Choice

The large increase in the elasticity of supply in crude oil during 2014-2015 was attributable to

• A)hydraulic fracturing.
• B)directional drilling.
• C)hyperaccurate seismologic mapping.
• D)all of these.

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Definitions:

U.S. Goods

Products and commodities that are manufactured or produced within the United States.

Summer Vacations

A period during the summer months where individuals take a break from work or school activities, often involving travel or leisure activities.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing and able to provide in the market.

Canadian Goods

Products manufactured, produced, or grown in Canada.