The Markets for Renewable and Nonrenewable Resources Operate to Ensure

question 36

Multiple Choice

The markets for renewable and nonrenewable resources operate to ensure that:

• A)the producers using these resources earn above-normal profits even in the long run.
• B)the current and future prices of such resources remain high.
• C)the cost of extraction of such resources increase with increase in price.
• D)the current price of such resources should remain low but the future prices should increase to increase profitability of the producers.
• E)the current and future wants for these resources are satisfied in the least costly manner.