Businesses across the country are starting to install extra insulation in their buildings and warehouses. households are now deciding to install more insulation as well. which of the following outcomes would you predict will happen to the market for oil? a) equilibrium price and quantity of oil will increase. b) equilibrium price and quantity of oil will decrease. c) equilibrium price will decrease and quantity will increase. d) equilibrium price will increase and quantity will decrease.

The answer is: B) Equilibrium price and quantity of oil will decrease.

Explanation:

When a company or a family installs extra insulation in their buildings or homes, then they will end up spending less money on both their electricity and heating bills. That will result in a lower demand for oil, so the price of oil will go down. As oil prices go down, the oil companies will decrease the oil supply until a new equilibrium point is reached.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answer casual models;