The Audubon Society currently allows three oil companies to extract natural gas on its Rainey Wildlife Sanctuary because
A) natural gas is more valuable than wildlife conservation.
B) oil interests actually own the Audubon Society.
C) the government required the leasing of natural gas rights under its power of eminent domain.
D) the sanctuary must, by law, be used to promote the public interest.
E) the sanctuary is the private property of the Audubon Society.
E
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Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D1 and S1 (point A)
If the price of motorcycle engines increases, and the wages of motorcycle workers increase, how will the equilibrium point change? A) The equilibrium point will move from A to E. B) The equilibrium point will move from A to C. C) The equilibrium will first move from A to B, then return to A. D) The equilibrium point will move from A to B.
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. Figure 8.6 Refer to Figure 8.6. Marginal cost is represented by
A. curve 1. B. curve 2. C. curve 3. D. line segment AB.