1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kipish [7]
3 years ago
6

The elasticity of demand for oil is about 0.5, and the elasticity of supply is about 0.3. If the Arctic National Wildlife Refuge

(ANWR) were drilled and the world supply of oil increased by 3%, what is the estimated percent change in the world price of oil?
Social Studies
1 answer:
Tanya [424]3 years ago
7 0

Answer:

3.75%

Explanation:

%∆P from shift in supply

= (%∆S)/(|E D |+E S )

= 3 ÷ (0.5 + 0.3) = – 3.75%

Where ∆ means "Change in"

Cheers

You might be interested in
Why have there been so many conflicts over land throughout Japan's history?
sertanlavr [38]

Answer:

I think it is A or B not sure but i think its is A more

Explanation:

6 0
3 years ago
Intangible factors contributing to America's antebellum economic growth included the: a. steady issue of government patents for
malfutka [58]

Answer:

I believe your answer is most likely A or D, if not then C. (I hope it helps!!)

Explanation:

8 0
3 years ago
systems are chosen by comparing the costs versus the benefits of the system and are not restricted by GAAP (or International Fin
Vladimir [108]

Answer:

<em>Managerial Accounting </em>

Explanation:

Managerial accounting is <em>the process to classify, calculate, assess, interpret, and convey financial information to managers to achieve the goals of an organization.</em>

This differs from financial accounting because the intended purpose of managerial accounting is to assist users in creating well informed business decisions within the organization.

5 0
3 years ago
What is an example of a single family home
Sever21 [200]

Answer:

A single-family home is an independent residential structure that sits on its own land and is designed to be used as a single dwelling unit, having just one kitchen, unshared walls and unshared utilities

Explanation:

6 0
3 years ago
Read 2 more answers
What are the objectives of civil society​
Svetllana [295]

Answer:

They monitor government policies and actions and hold government accountable.

3 0
2 years ago
Other questions:
  • Using complete sentences, explain how industrial growth following World War II encouraged the growth of suburbs.
    7·1 answer
  • If information appears scientific but is based on unsound scientific principles, it is called ______.
    5·1 answer
  • Which regulatory branch of the federal government has the greatest influence on policy for the mass media?
    7·2 answers
  • Who was the english king who gave permission to establish virginia
    15·1 answer
  • ccording to virtue ethics, we become more insightful in selecting moral exemplars A. through trial and error. B. by growing olde
    9·2 answers
  • Under the principle of legality, ________ laws, which hold a person legally responsible for acts committed before the law was pa
    11·1 answer
  • PLEASEEEEEEEEEEEEE HURRRRRRYYYYY!!!!!!!!! Why was the French and Indian War considered a contributing factor to the American Rev
    8·2 answers
  • Identity and explain five factors to adopt in order to unite all Ghanaians through various cultural backgrounds
    8·1 answer
  • How did the silk road affect europe's culture
    10·1 answer
  • Karen Horney emphasized ____________________ in children's development rather than unconscious sexual and aggressive impulses
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!