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Author Question: The role of the market for renewable resources is to determine a price at which the quantity of a ... (Read 102 times)

azncindy619

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on: Jun 30, 2018
The role of the market for renewable resources is to determine a price at which the quantity of a resource is just sufficient to enable the resource to renew itself at a rate that best satisfies society's wants.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If long-run costs are plotted on the vertical axis and the quantity of output is plotted on the horizontal axis, a line that is perfectly horizontal implies:
 a. constant returns to scale.
  b. economies of scale.
  c. diseconomies of scale.
  d. inefficient use of capital.
  e. inefficient use of labor.


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6ana001

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

a


azncindy619

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  • Posts: 562
Reply 2 on: Jun 30, 2018
Excellent

milbourne11

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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