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Traders expect the price of a nonrenewable natural resource to _ at a rate equal to the _. We call this idea the Hotelling principle. A. rise; interest rate B. fall; average total cost C. fall; interest rate D. rise; average total cost

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Answer:

A. rise; interest rate

Explanation:

Hotelling principle explaining spatial competition was proposed by Harold Hotelling. The principle addresses a fundamental decision for an owner of a non-renewable resource that they prefer to keep the resource and hope for a better price in future.

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