Which of the following will tend to result in more proven oil reserves?
A) rising oil prices
B) development of oil substitutes
C) conservation measures
D) all of the above
A
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Suppose that each of the seven dwarfs buys 4 mugs of ginger ale per week from Snow White's cafe, when the price per mug is $2 . If the seven dwarfs are the entire market demand for Snow White's ginger ale, then which of the following is the correct value for market quantity demanded of ginger ale at a price of $2?
a. 4 b. 8 c. 7 d. 28
Consider a consumer choosing between spending her money on food, F, or clothing, C. Assume that a unit of food and a unit of clothing have the same price, and that the consumer can afford a total of 20 units of either food or clothing. If B stands for benefits then "B(F) + B(C)" is the:
A. constraint. B. objective function. C. optimization problem. D. sunk cost.