Multiple Choice
Why does a wool coat cost more than a cotton T-shirt?
A) Because cotton T-shirts are not scarce.
B) Because cotton T-shirts are priced so they will be in shortage.
C) Because wool coats are priced so they will be in surplus.
D) Because more scarce resources are needed to produce a wool coat than to produce a cotton T-shirt.
Correct Answer:
Verified
Correct Answer:
Verified
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