« previous next »

Author Question: Evaluate the following statement: Water is plentiful, therefore it can't be a scarce resource like ... (Read 110 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
on: Jun 29, 2018
Evaluate the following statement: Water is plentiful, therefore it can't be a scarce resource like oil which is not as plentiful.
 
  What will be an ideal response?

Question 2

Which average cost curves are U-shaped?
 
  What will be an ideal response?


cdmart10

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

The truth is that both water and oil are scarce because they are both limited in supply. The fact that water happens to be more plentiful than oil doesn't make it any less scarce of a resource.

Answer to Question 2

Both the average total cost and the average variable cost curves are U-shaped. The only average cost curve that is not U-shaped is the average fixed cost curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Cade and colleagues discovered a way to improve athletic performance and prevent salt and water imba Cade and colleagues discovered a way to improve athletic performance and prevent salt and water imba
Lake position in the landscape and proportion of water received as groundwater (data from Webster et Lake position in the landscape and proportion of water received as groundwater (data from Webster et
Tracing the Source of a Water-Borne Disease Tracing the Source of a Water-Borne Disease
Water Access Water Access
Access to clean drinking water is just as important as adequate nutrition for human health Access to clean drinking water is just as important as adequate nutrition for human health
A 400-g piece of metal at 120°C is dropped into a cup containing 450 g of water A 400-g piece of metal at 120°C is dropped into a cup containing 450 g of water
Video: Introduction to Epilepsy

For a complete list of videos, visit our video library