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QUESTION 10 A shift of the supply curve of oil raises the price of oil from $10.50 a barrel to $11.50 a barrel and

QUESTION 10 A shift of the supply curve of oil raises the price of oil from $10.50 a barrel to $11.50 a barrel and reduces the quantity demanded from 41 million to 40 million barrels a day. The price elasticity of demand for oil is O 2.78 O 0.26 2 points

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