If extraction technology continues to improve over time,
A) the price of crude oil can continue to fall or stay steady.
B) the price of crude oil will increase despite any attempts to stem demand.
C) the price of crude oil will only fall if sufficient government taxation is implemented.
D) the price of crude oil will only fall if sufficient demand declines are arranged.
A
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In the country of Kwaki, people produce canoes, fish for salmon, and grow corn. In one year they produced 5000 canoes using labor and natural materials only, but sold only 4000, as the economy entered a recession
The cost of producing each canoe was $1000, but the ones that sold were priced at $1250. They fished $30 million worth of salmon. They used $3 million of the salmon as fertilizer for corn. They grew and ate $55 million of corn. What was Kwaki's GDP for the year?
In a non-cooperative game the players each pursue their ______.
a. binding contract b. mutual payoff c. partners’ goals d. individual self-interest
To obtain a conviction for price fixing under the Sherman Antitrust Act, the government needs to prove:
A. only that an attempt to fix prices was made. B. that there was a price-fixing agreement that actually lessened competition. C. that there was a high concentration ratio for the industry. D. that consumers were charged a higher price as a result of the price fixing.
Shift to the left or right for supply:business deploys more efficient tech
What will be an ideal response?