Suppose a New Oxygen-Enrichment Process Will Cut in Half the Energy

question 64

Multiple Choice

Suppose a new oxygen-enrichment process will cut in half the energy required to smelt copper. The firm selling licenses for this patented process will experience a greater demand for its product when

• A) the price of copper falls and smelters become more desperate to economize.
• B) energy prices are expected to fall.
• C) energy prices are expected to rise.
• D) the price of steel, a substitute for copper, declines.

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