(Solution) - Consider the following demand curve for oil a Using this demand -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Consider the following demand curve for oil:

a. Using this demand curve, fill in the following table:

b. If the price was $10, how much oil would be demanded?
c. What is the maximum price (per barrel) that demanders will pay for 20 million barrels of oil?