Suppose RioTintoAlcan Is Considering the Construction of a New Aluminum

question 37

Multiple Choice

Suppose RioTintoAlcan is considering the construction of a new aluminum smelter in Northern Quebec,the operation of which requires a great deal of electricity.Suppose also that the price of electricity is predicted to rise significantly in the near future.As a result,the firm decides to build a plant using existing technology that is more expensive but uses less electricity per tonne of aluminum produced.This behaviour is an example of

• A)short-run profit maximization.
• B)short-run cost minimization.
• C)the long-run principle of substitution.
• D)innovation away from changes in factor prices.
• E)long-run economies of scale.

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Definitions:

Foreskin

The retractable fold of skin covering the end of the penis.

Glans Penis

The sensitive bulbous structure at the distal end of the penis, which is covered with mucous membrane.

Erection

The process by which an organ, typically the penis, becomes enlarged and rigid, often as a result of sexual arousal.

Sexual Intercourse

The act of physical sexual contact between individuals that involves the genitalia of at least one person.