The cost of not being able to extract and sell a nonrenewable resource in the future (because it is being extracted in the present) is known by natural resource economists as the:
A. extraction cost.
B. future cost.
C. conservation cost.
D. user cost.
Answer: D
Economics
You might also like to view...
In an economy with 4,000 unemployed people and 8,000 employed people, the unemployment rate is
a. 50.0 percent b. 40.0 percent c. 33.3 percent d. 60.0 percent e. 25.0 percent
Economics
When a rise in the price of one item results in a decrease in the demand for another good, then the two goods are
A) substitute goods. B) complementary goods. C) inferior goods. D) satisfying the law of supply.
Economics
If a consumer has a choice between only two goods and both of them are perfect complements what would the indifference curve look like and why?
What will be an ideal response?
Economics
The marginal cost of hiring the 7th worker is
a. $400 b. $1000 c. $200 d. $0
Economics