If an exhaustible resource is scarce, has constant marginal cost over time, and is sold in a competitive market, then
A) its price increases over time.
B) its price will not be a function of the interest rate.
C) its price moves independently of past prices.
D) its price equals marginal cost.
A
Economics
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If E$/£ moves from 2 to 3, this is a percentage change of:
a. 50%. b. 33.3%. c. -33.3%. d. -50%.
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Smaller firms tend to rely on financial intermediaries instead of financial markets for external financing due to
A) transactions costs. B) adverse selection. C) moral hazard. D) all of the above.
Economics