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Sublight2097 Sublight2097
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9 years ago
A good deal of iron ore is mined in Michigan's Upper Peninsula. What is the relationship between the demand for iron ore and the cost of mining operations in Michigan?
A) Changes in the demand for iron ore are caused directly by changes in the cost of iron mining.
B) Changes in the costs of iron mining are caused by changes in the demand for iron ore.
C) There is no significant relationship because the demand for iron ore is determined by many different people, while the cost of mining the ore is determined by business executives.
D) Nobody knows.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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9 years ago
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Sublight2097 Author
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#2
9 years ago
Seriously, you've been tremendously helpful! Thank you.
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#3
9 years ago
Happy to help, let me know if you have any more requests.
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