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Author Question: A good deal of iron ore is mined in Michigan's Upper Peninsula. What is the relationship between the ... (Read 73 times)

sammy

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on: Jun 29, 2018
A good deal of iron ore is mined in Michigan's Upper Peninsula. What is the relationship between the demand for iron ore and the cost of mining operations in Michigan?
 
  A) Changes in the demand for iron ore are caused directly by changes in the cost of iron mining.
  B) Changes in the costs of iron mining are caused by changes in the demand for iron ore.
  C) There is no significant relationship because the demand for iron ore is determined by many different people, while the cost of mining the ore is determined by business executives.
  D) Nobody knows.

Question 2

The free-rider problem may arise in case of ________.
 
  A) public goods
  B) private goods
  C) club goods
  D) inferior goods


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FergA

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


sammy

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Reply 2 on: Jun 29, 2018
Excellent

lkanara2

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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