« previous next »

Author Question: If a non-renewable resource is scarce, has constant marginal cost of production and is sold in a ... (Read 155 times)

erika

  • Hero Member
  • *****
  • Posts: 522
on: Jul 1, 2018
If a non-renewable resource is scarce, has constant marginal cost of production and is sold in a competitive market,
 
  A) its price will increase over time.
  B) its price will exceed marginal cost.
  C) its price will increase by the rate of interest.
  D) All of the above.

Question 2

An exhaustible resource with a very large known reserve will most likely exhibit
 
  A) a highly variable price in the near future.
  B) a decreasing price in the near future.
  C) an increasing price in the near future.
  D) a constant price in the near future.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


courtney_bruh

  • Sr. Member
  • ****
  • Posts: 308
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

erika

  • Hero Member
  • *****
  • Posts: 522
Reply #2 on: Jul 1, 2018
Thank you


courtney_bruh

  • Sr. Member
  • ****
  • Posts: 308
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Segregation according to resource factor among 40 species of British passerine birds. Segregation according to resource factor among 40 species of British passerine birds.
3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid 3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid
Production of Ethanol process Production of Ethanol process
“New” Renewable Energy Sources “New” Renewable Energy Sources
Production of ABO blood group antigens Production of ABO blood group antigens
Examples of Polypeptide Production from Synthetic mRNAs Examples of Polypeptide Production from Synthetic mRNAs
Video: Causes of Angina

For a complete list of videos, visit our video library