Pressure to cut the use of fossil fuels has caused oil companies to lower the amount they invest in looking for new reserves. What will be the long-run effect of such a policy on the market for oil?
- Amarket change: upward movement along the demand curve; price change: price decreases
- Bmarket change: downward movement along the demand curve; price change: price increases
- Cmarket change: supply shifts to the left; price change: price increases
- Dmarket change: supply shifts to the left; price change: price decreases