The supply curve of a natural resource like oil has a positive slope because

a. the supply becomes closer to exhaustion as demand rises.
b. it becomes more costly to find and develop supplies as demand rises.
c. rents rise as output increases.
d. indirect taxes rise with output.

b

Economics

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Which of the following is the best example of what happens when an equilibrium point is reached?

A. A store that sells its televisions for $999 lowers its price to 899 B. All the stores in a city are selling a certain model of television for 899$ C. some customers decide $899 is too high ad buiy a lower-cost television D. The number of tellevision available at $899 is the same as the number of sales

Economics

Predatory pricing will be most effective when the costs structures of the firms in an industry, including potential entrants into the market, are identical or at least very similar

Indicate whether the statement is true or false

Economics