问题
单项选择题
Which of the following best describes the elasticities of supply for renewable and non-renewable resources Renewable resource Non-renewable resource（）①A. ElasticPerfectly elastic ②B. Perfectly inelastic Perfectly elastic ③C. Inelastic Perfectly inelastic
A. ①
B. ②
C. ③
答案
参考答案：B
解析：
The supply (flow) of a renewable resource is fixed at any point in time. Therefore the supply is independent of price, or perfectly inelastic. Supply (stock) of a non-renewable resource is perfectly elastic, as the resource is supplied from its known stock at a price equal to the present value of its expected price in the next period.