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The demand curve for oil slopes downward because: O oil will be used in its higher-valued uses only when the price is lower. O oil

The demand curve for oil slopes downward because: O oil will be used in its higher-valued uses only when the price is lower. O oil will be used in its higher-valued uses only when the price is higher. O oil has many substitutes, so no buyer is willing to pay when the price of oil rise O oil has no substitutes, so buyers do not react to any change in the price of oil

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