According to a news story about the International Energy Agency, the agency forecast that the current slide

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According to a news story about the International Energy Agency, the agency forecast that “the current slide in [oil] prices won’t [reduce] global supply.” Would a decline in oil prices ever cause a reduction in the supply of oil? Briefly explain.

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Economics

ISBN: 978-0134738321

7th edition

Authors: R. Glenn Hubbard, Anthony Patrick O Brien

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