If the price of oil falls, what will happen to the quantity of oil supplied?
A. It will increase, because consumers will want more oil.
B. It will decrease, because some oil deposits are no longer worth tapping.
C. It will remain unchanged, because the world's total oil supply is fixed.
D. The quantity will change in a way that cannot be predicted without further information.

Question

If the price of oil falls, what will happen to the quantity of oil supplied?
A.	It will increase, because consumers will want more oil.
B.	It will decrease, because some oil deposits are no longer worth tapping.
C.	It will remain unchanged, because the world's total oil supply is fixed.
D.	The quantity will change in a way that cannot be predicted without further information.

anonymous · Answer

my closest answer is B, but i don't know if the reason is right

anonymous · Answer

Its B

anonymous · Answer

on the above information provided it will be A, but that also depends on the elasticity of the product itself.