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Author Question: Bringing oil to the market is a relatively long and costly process. The whole process from ... (Read 128 times)

sam.t96

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on: Oct 5, 2019

Bringing oil to the market is a relatively long and costly process. The whole process from exploration to pumping significant amounts of oil can take years. What does this indicate about the price elasticity of supply for oil?


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The elasticity coefficient is likely to be low and supply is highly elastic.


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The elasticity coefficient is likely to be low and supply is highly inelastic.


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The elasticity coefficient is likely to be very high and supply is inelastic.


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The elasticity coefficient is likely to be close to zero and supply is perfectly elastic.

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Marked as best answer by sam.t96 on Oct 5, 2019

Eazy416

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Reply #1 on: Oct 5, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sam.t96

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Reply 2 on: Oct 5, 2019
Great answer, keep it coming :)

Dominic

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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