The Supply Curve for Oil Is ________ Because ________

question 4

Multiple Choice

The supply curve for oil is ________ because ________.

• A) elastic; per unit costs do not increase when the quantity supplied increases
• B) elastic; oil exploration and drilling is not expensive relative to revenues earned
• C) inelastic; per-unit costs rise quickly when the quantity supplied increases
• D) inelastic; oil exploration and drilling is not expensive relative to revenues earned

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Definitions:

Clear Focus

The act or state of concentrating or maintaining a sharp visual or mental clarity.

Ocular Lens

The transparent structure inside the eye that focuses light rays onto the retina to create clear images.

Working Distance

The distance between the objective lens of a microscope and the specimen being observed.