This topic contains a solution. Click here to go to the answer

Author Question: If there are approximately 6,000 barrels of known reserves of oil, an estimated 10,000 barrels of ... (Read 173 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
If there are approximately 6,000 barrels of known reserves of oil, an estimated 10,000 barrels of unknown reserves of oil,
 
  and it is estimated that the supply of oil will be depleted in 40 years, what is the annual consumption of barrels of oil, all else equal?
  A) 150
  B) 250
  C) 400
  D) 1,600

Question 2

The law of supply reflects the negative relationship between the price of a good or service and the quantity of that good or service that sellers are willing to offer for sale.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

debra928

  • Sr. Member
  • ****
  • Posts: 342
Answer to Question 1

C

Answer to Question 2

FALSE




Ebrown

  • Member
  • Posts: 567
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

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?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

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.

For a complete list of videos, visit our video library