The figure given below represents the demand and supply conditions of an economy. Figure 7.3 
Refer to Figure 7.3.Which of the following explains the shift in supply curve from S1 to S2?
A) decreases in oil supplies as experienced in the 1970s.
B) wage concessions by union members.
C) businesses reducing their profit margins.
D) discoveries of natural gas.
E) increased foreign demand for domestic products.
Correct Answer:
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