Question 17 Homework Unanswered The current equilibrium price of oil is $100 per barrel and the equilibrium quantity of oil is 96 million barrels per day. OPEC increases its oil production by 4 million barrels per day. The price elasticity of demand for oil is -0.2, while the supply of oil is perfectly inelastic over the period of time in question. Based on this information, you predict that after the OPEC's production increase, the equilibrium price of oil will be $ per barrel. Type your numeric answer and submit Fill in the Blanks Type your answers in all of the blanks and submit X, Ω· Suppose Amazon raises its Prime membership fee from $119 to $139. The price elasticity of demand for Amazon Prime subscriptions in this price range is -1.2. You predict that the quantity of subscriptions demanded will (increase/decrease) Write your response here.... by Type your answer here. % and that Amazon's total revenue will (increase/decrease) Write your response here.... by Type your answer here.