a. When the price of olive oil goes up, what probably happens to the demand for corn oil, ceteris paribus?
b. When the price of petroleum goes down, what probably happens to the demand for solar power, ceteris paribus?
c. When oil companies expect the price of oil to be lower next year, what happens to the supply of oil today?
d. Imagine that a technological innovation reduces the costs of producing high-quality steel. What happens to the supply curve for steel?

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