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Author Question: If extraction technology continues to improve over time, A) the price of crude oil can continue ... (Read 80 times)

hubes95

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on: Jul 1, 2018
If extraction technology continues to improve over time,
 
  A) the price of crude oil can continue to fall or stay steady.
  B) the price of crude oil will increase despite any attempts to stem demand.
  C) the price of crude oil will only fall if sufficient government taxation is implemented.
  D) the price of crude oil will only fall if sufficient demand declines are arranged.

Question 2

In the later part of the twentieth century, the price of crude oil began to increase after decades of relatively steady prices, which of the following could explain this phenomenon?
 
  A) Worldwide reserves have been increasing.
  B) Worldwide demand has been increasing.
  C) Global warming
  D) Extraction technology has been degrading.
Microeconomics ¦ Perloff ¦ 8th Edition
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miss_1456@hotmail.com

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

A

Answer to Question 2

B


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