Author Question: Which of the following indicates that there is a shortage in the market? A) Demand is rising. B) ... (Read 34 times)

tfester · **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.