An increase in the price of crude oil will most likely cause

Question

Quizplus · Accepted Answer

An increase in the price of crude oil will raise the cost of production for products made using oil and oil derivatives, such as plastics, fertilizers, and transportation fuels. As a result, manufacturers are likely to reduce their supply of these products, leading to a decrease in the supply of products made using oil and oil derivatives. This could cause prices of these products to increase, potentially resulting in inflation. Alternatively, manufacturers may seek alternative inputs, such as renewable energy sources, which can be more expensive or less readily available.

An Increase in the Price of Crude Oil Will Most