This agency regulates workplace safety and health conditions.

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.

Which of the following is a characteristic of an oligopolistic industry?

a. interdependence of a firm's price and output decisions b. low barriers to entry c. small output of individual firms relative to the total market d. a large number of competing firms