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Business, 15.04.2020 01:14 naomijefferson22

In an economy where heating oil is the primary source of heat for most households, new supplies of natural gas, a substitute for heating oil, are discovered. Natural gas provides heat at a much lower cost. What is the most likely effect of these discoveries on the market price and quantity of heating oil produced?

A. Price Decreases & Quantity Decreases
B. Price Decreases & Quantity Increases
C. Price Increases & Quantity Decreases
D. Price Does Not Change & Quantity Does Not Change

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