The law of increasing additional cost is due to
A) scarcity.
B) inefficient use of technology.
C) the fact that resources are not perfectly adaptable for alternative uses.
D) the fact that there are always alternatives and it is costly to figure out which alternative is best.
C
Economics
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Refer to Table 9-2. In Year 2, if the supply of money measured by M2 was $1,000 billion, then the components of M2 not shown in the table must have totaled
A) less than $250 billion. B) $250 billion. C) $300 billion. D) $450 billion.
Economics
If the price of a barrel of oil is $100 this year and the interest rate is 10 percent, then according to the Hotelling Principle the price next year is expected to be ________ per barrel
A) $90 B) $110 C) $100 D) None of the above is correct.
Economics