The Demand Curve for Oil Slopes Downward Because

The demand curve for oil slopes downward because:

A) oil will only be used in its higher-valued uses when the price of oil is lower.
B) oil will only be used in its higher-valued uses when the price of oil is higher.
C) oil has many substitutes so that no buyer is willing to pay when the price of oil rises.
D) oil has no substitutes so that buyers do not react to any change in the price of oil.

Correct Answer:

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