answersLogoWhite

0


Best Answer

They will produce less of it because when the price raises, the buyers want less of it because the price is too high.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If the price of oil rises around the world what will happen to oil production in Texas?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How much is regular gas in Texas?

Texas regular gas is around the price of 2.99 or a littlw but least or around the price of 3.oo it all deepeds where you are.... TIP= Every place in the U.S. of the price of gas is around 2.99 to 3.00 so there is the estmite for every place in the U.S..


What is the average price of gasoline in Texas?

Around 1.88 in November 2008. It varies from place to place, though.


According to Adam Smith what will happen when the demand of a good increases?

The price decreases.


What is the average price for life coaching courses in Texas?

The average tuition for this type of course in Texas is around $500 per course. This price can vary depending on the type of service being requested. Life coaching costs can widely greatly as this definition is often used loosely. Most sessions average around $100 for one hour in the Texas area.


What is the best place to live in Texas?

The best place to live in Texas is the City of Fredericksburg. This is uniquely German Texas city with the best weather around, low unemployment rate and a high median home price.


Average home price in frisco Texas?

The price of homes in Frisco Texas ranges from 100,000 to 400,000


What would happen to a supply and demand graph if the cost of production increases and why?

supply must shift up/left because at every quantity, the price would be higher


How much will a 2012 ford super chief cost?

It is only a concept vehicle but Ford says that if it goes into production the price will be around $50,000.


How much was the Tucker car?

The original proposed price of the 1947-48 Tucker was to be $2,450. But production problems and cost overruns made the actual price around $4,000 ($38,648 in 2013 money). Tucker completed 58 cars before shutting down production. The innovative Tucker was not to be.


What is factor price?

the cost of factor of production


What is a series of competitive price cuts that lowers the market price below the cost of production?

A price war.


What factors cause the supply curve to shift?

Change in: production costs; production environment; price of related good; law; labour demand/price.