How does the price elasticity of supply affect this good

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Reference no: EM133516280

Questions:

  1. Why is the price of oil increasing?
  2. How does the price elasticity of supply affect this good?
  3. What should oil producers do-stay in the industry or leave the industry?
  4. What is the outlook of the oil industry in the next 5 to 10 years?

Reference no: EM133516280

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