Oil is a main component in the manufacture of plastic bags.If the price of oil were to increase,the price of plastics bags would ________ and the quantity would ________.

Question

Quizplus · Accepted Answer

Since oil is a main component in the manufacture of plastic bags, an increase in the price of oil would lead to an increase in the cost of producing plastic bags. This increase in production cost would lead to an increase in the price of plastic bags as well. As a result, consumers would likely purchase fewer plastic bags, and the quantity of plastic bags sold would decrease. Therefore, the correct answer is B.

Oil Is a Main Component in the Manufacture of Plastic