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Please fill out question in its entirety, Thank you! Suppose the short-run price elasticity of demand for oil is 1.3. New discoveries of oil increase

Please fill out question in its entirety, Thank you!

Suppose the short-run price elasticity of demand for oil is 1.3. New discoveries of oil increase the quantity of oil by 5 percent. The price of oil will E] by |:|%. (Round your answer to two decimal places.) decrease increase

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