The demand curve for oil shows: a. the quantity demanded of oil at different oil prices. b. the demand for oil at different prices of other goods. c. the demand for oil when there is a surplus or shortage. d. the quantity demanded of oil at different income levels.

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14-03-2022
Business

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The demand curve for oil shows: a. the quantity demanded of oil at different oil prices. b. the demand for oil at different prices of other goods. c. the demand for oil when there is a surplus or shortage. d. the quantity demanded of oil at different income levels.

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ewomazinoade ewomazinoade · Answer 1 · 2022-03-25T11:15:27+01:00

The demand curve for oil shows the quantity demanded of oil at different oil prices.

What is the demand curve for a good?

The demand curve for a good is the relationship between price of the good and quantity demanded of the good.

The demand curve is negatively sloped because the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

To learn more about the demand curve, please check: https://brainly.com/question/25140811