This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: According to the Hotelling Principle, the price of a nonrenewable resource is expected to A) rise ... (Read 69 times)

gonzo233

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
According to the Hotelling Principle, the price of a nonrenewable resource is expected to
 
  A) rise at a rate higher than the interest rate.
  B) rise at a rate lower than the interest rate.
  C) rise at a rate equal to the interest rate.
  D) fall at a rate equal to the interest rate.

Question 2

The above figure shows Jane's budget line and two of her indifference curves. Jane's marginal rate of substitution is
 
  A) the rate at which she would give up a lobster dinner for a steak dinner and consider herself just as well off.
  B) equal to the ratio of the price of a steak dinner to the price of a lobster dinner when she is at her best affordable point.
  C) equal to 2 lobster dinners per steak dinner at her best affordable point.
  D) Both answers A and B are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shayla

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


gonzo233

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
Wow, this really help

cdmart10

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Elder Care Resource Phone Numbers Elder Care Resource Phone Numbers
Price of Computers, 1982–2010 Price of Computers, 1982–2010
The Principle of Falsifiability The Principle of Falsifiability
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Genotypes Give Rise to Phenotypes Genotypes Give Rise to Phenotypes
Video: Types of disease resistance: innate defenses & immunity

For a complete list of videos, visit our video library