Multiple Choice
Suppose coal is mined at a zero marginal cost and is priced competitively.If the price of coal is growing faster than the interest rate,then coal miners
A) are making positive economic profits.
B) will increase the amount of coal left unmined.
C) should extract more coal now and less coal in the future.
D) will exit the industry in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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