According to the Hotelling Principle,the price of an nonrenewable resource is expected to
A) fall slowly over time.
B) fall at a rate equal to the interest rate.
C) fluctuate randomly.
D) rise at a rate equal to the interest rate.
E) remain constant over time.
Correct Answer:
Verified
Q125: The market for land
A) has an elastic
Q126: Q127: The price of coal is currently $80 Q128: The supply of land is perfectly _ Q129: In the market for land,the supply curve Q131: The aggregate quantity of land supplied Q132: As the price of land rises,the quantity Q133: Considered as a factor of production,coal is Q134: The price of an nonrenewable resource is Q135: According to the Hotelling Principle,the price of
A) varies
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