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Refer to the Diagram, Assuming That the Firm Represented Is

Question 175

Multiple Choice

Refer to the diagram, assuming that the firm represented is operating on curve 1. If the current price of the resource rises by $20, the optimal quantity extracted in the first year will A) remain unchanged. B) increase by 250. C) increase by 500. D) decrease by 250. Refer to the diagram, assuming that the firm represented is operating on curve 1. If the current price of the resource rises by $20, the optimal quantity extracted in the first year will


A) remain unchanged.
B) increase by 250.
C) increase by 500.
D) decrease by 250.

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