If a non-renewable resource is scarce, has constant marginal cost of production and is sold in a competitive market,
A) its price will increase over time.
B) its price will exceed marginal cost.
C) its price will increase by the rate of interest.
D) All of the above.
D
Economics
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A change in the price of a good ________ its supply curve and ________ a movement along its supply curve
A) does not shift; causes B) shifts; does not cause C) does not shift; does not cause D) shifts; causes E) None of the above because the change in the price might cause either a shift in the supply curve or a movement along the supply curve depending on the size of the change.
Economics
What economic benefits might a developing country gain by reducing corruption? Discuss only economic benefits and provide examples from specific developing countries
What will be an ideal response?
Economics