Economics
What will be an ideal response?
Social service that studies how people, individually or collectively make decisions about how to use scarce resources to achieve desired goals
You might also like to view...
If the price of refillable butane lighters was to decrease, then
A) the quantity of butane demanded would increase. B) the demand for butane would decrease. C) the demand for butane would increase. D) the quantity of butane demanded would decrease.
Suppose an exhaustible resource can be sold only this period or in the next period. The marginal cost of extraction is constant and equal to $10. The next year price of the resource is $115, respectively. The interest rate is 5%. What is the minimum current price required to make the sale of the resource profitable in the current period?
A) $95 B) $100 C) $110 D) $125