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Author Question: Which of the following indicates that there is a shortage in the market? A) Demand is rising. B) ... (Read 13 times)

tfester

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  • Posts: 534
on: Jul 1, 2018
Which of the following indicates that there is a shortage in the market?
 
  A) Demand is rising.
  B) Demand is falling.
  C) Price is rising.
  D) Price is falling.

Question 2

If a non-renewable resource is scarce, has constant marginal cost of production, and is sold in a competitive market,
 
  A) its price will increase over time.
  B) its price will exceed marginal cost.
  C) its price will increase by the rate of interest.
  D) All of the above.


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triiciiaa

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


tfester

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  • Posts: 534
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

nathang24

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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