The supply curve of an exhaustible resource shifts up as the marginal cost of extracting the resource increases.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Diseconomies of scale:
a. occur only in the short run.
b. occur when at least one resource is fixed and unit costs decrease as the quantity of production increases.
c. occur when at least one resource is fixed and unit costs increase as the quantity of production increases.
d. are represented by the upward-sloping portion of the short run average total cost curve.
e. occur when all resources are variable and unit costs increase as the quantity of production increases.
An Oil-dependent World— Supply and Demand Driven
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
Minerals are nonrenewable resources in limited supply
Blood Supply to the Lungs
Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus).
Type III curve. Mortality is highest early in life. Data for a desert shrub (Cleome droserifolia).