1. Suppose the price of WTI oil decreased from $90/barrel to $50/barrel and the world quantity supplied decreased (Qd) f

[answerhappygod]

1. Suppose the price of WTI oil decreased from $90/barrel to
$50/barrel and the world quantity supplied decreased (Qd) from 94.5
million a day to 93 million barrels. The slope of the direct supply
is
A. 0.0375
B. 0.452
C. 405
2. How do businesses deal with the consequences of
a price floor?
They provide less service for the same price.
They charge for things that were provided for free before the
floor.
They rebrand the surplus and sell it at a lower price.