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15-02-2024
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Would a decline in oil prices ever cause a reduction in the supply of oil?
1) No, a decline in oil prices would reduce the quantity of oil supplied, not the supply of oil.
2) Yes, a decline in oil prices would reduce the supply of oil, but not the quantity of oil supplied.
3) Yes, a decline in oil prices would reduce both the quantity of oil supplied and the supply of oil.
4) No, the supply of oil is fixed.

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