-(Exhibit: Future Generations and Exhaustible Natural Resources) S₁ is the current supply curve of an exhaustible resource. All other things unchanged, it is the current ________ of extracting the resource.

Question

-(Exhibit: Future Generations and Exhaustible Natural Resources) S<sub>1</sub> is the current supply curve of an exhaustible resource. All other things unchanged, it is the current ________ of extracting the resource. A) MR B) MP C) MC D) MRP

Quizplus · Accepted Answer

The correct answer is C) MC, which stands for Marginal Cost. The current supply curve of an exhaustible resource reflects the marginal cost of extracting the resource, as it shows the additional cost associated with extracting one more unit of the resource.

-(Exhibit: Future Generations and Exhaustible Natural Resources) S1 Is the Current

-(Exhibit: Future Generations and Exhaustible Natural Resources) S₁ Is the Current