Which of the following would occur if the marginal cost of extracting oil rose?
A. People would use more oil.
B. Oil producers would increase their production of oil.
C. People would use less oil.
D. Oil company profits would rise.
Answer: C
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The slowdown in the growth of real wages in the United States since 1973 is consistent with a concurrent:
A. slowdown in productivity gains. B. slowdown in the growth of the working age population. C. speedup in the rate of inflation. D. slowdown in immigration into the country.
Between the end of the Civil War and the beginning of World War I, the U.S. economy was not able to effectively absorb the millions of immigrants it received
Indicate whether the statement is true or false
Identify the countries that depend largely on United States for trade
a. China and Japan b. U.K. and Germany c. Canada and Mexico d. France and Belgium e. Canada and U.K
Suppose you win a small lottery and you are given the following choice: You can (1) receive an immediate payment of $10,000 or (2) three annual payments, each in the amount of $3,600, with the first payment coming one year from now, the second two years from now, and the third three years from now. You would choose to take the three annual payments if the interest rate is
a. 2 percent, but not if the interest rate is 3 percent. b. 3 percent, but not if the interest rate is 4 percent. c. 4 percent, but not if the interest rate is 5 percent. d. 5 percent, but not if the interest rate is 6 percent.