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Assume that the government of a nation rations the crude oil available to car owners each month which reduces the overall demand for petroleum, however
Assume that the government of a nation rations the crude oil available to car owners each month which reduces the overall demand for petroleum, however the nation continues to import oil from the world market , which of the following will be observed in the oil market A) the world price of petroleum will remain unaffected.
B) the world price of petroleum would decline
C) the domestic price of petroleum would decline
D) the domestic price of petroleum would increase
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