Multiple Choice
Suppose a new oxygen-enrichment process will cut in half the energy required to smelt copper. The firm selling licenses for this patented process will experience a greater demand for its product when
A) the price of copper falls and smelters become more desperate to economize.
B) energy prices are expected to fall.
C) energy prices are expected to rise.
D) the price of steel, a substitute for copper, declines.
Correct Answer:
Verified
Correct Answer:
Verified
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