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Author Question: Which of the following indicates that there is a shortage in the market? A) Demand is rising. B) ... (Read 55 times)

tfester

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on: Jul 1, 2018
Which of the following indicates that there is a shortage in the market?
 
  A) Demand is rising.
  B) Demand is falling.
  C) Price is rising.
  D) Price is falling.

Question 2

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.


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triiciiaa

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


tfester

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  • Posts: 534
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

carojassy25

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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