Answer to Question #219679 in Economics for max

Question #219679

If a lower price of crude oil leads to lower oil revenue for oil-producing countries, this suggests that the world demand for oil is

Expert's answer

If a lower price of crude oil leads to lower oil revenue for oil-producing countries, this suggests that the world demand for oil is inelastic.

Learn more about our help with Assignments: Economics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. South African Airways (SAA) states that the peak holiday-travel season for the airline is between Ap
2. The sales tax you pay while purchasing a toothpaste is a __:[A]Tax imposed by the Central Government
3. If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 sli
4. If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 sli
5. If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 sli
6. Why many developing countries have not been able to wean themselves from being revepients of develop
7. ASSIGNMENT :Select any popular Ghanaian firm or any foreign firm that engages in international busin