Question
On April 30, the Wall Street Journal reported that oil companies were shutting down operations in response to low oil prices to a much greater
On April 30, the Wall Street Journal reported that oil companies were shutting down operations in response to low oil prices to a much greater degree than analysts anticipated. What must be the case?
The supply of oil is less elastic than analysts thought.
The supply of oil is more elastic than analysts thought.
The demand for oil is less elastic that analysts thought.
The demand for oil is more elastic than analysts thought.
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Essentials of Econometrics
Authors: Damodar Gujarati, Dawn Porter
4th edition
73375845, 978-0071276078, 71276076, 978-0073375847
