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 78 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
Excellent

bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

The Rise of the Second American Party System, 1828 The Rise of the Second American Party System, 1828
Principle of Progression Principle of Progression
Scheme of the principle of the fluorescent in situ hybridization to localize a gene in the nucleus. Scheme of the principle of the fluorescent in situ hybridization to localize a gene in the nucleus.
Growth of a Renewable Resource Growth of a Renewable Resource
Physics- Density, Pressure and Pascal's Principle Physics- Density, Pressure and Pascal's Principle
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.
Video: Introduction to Spirometry

For a complete list of videos, visit our video library