tag:blogger.com,1999:blog-1735628051336217048.post6794163665133891286..comments2024-02-24T04:08:30.728-05:00Comments on MV=PQ: A Resource for Economic Educators: Prices as Signals to SuppliersTim Schillinghttp://www.blogger.com/profile/09159198592921510105noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1735628051336217048.post-58471275732729480402010-04-22T06:31:25.184-04:002010-04-22T06:31:25.184-04:00Megan, I believe there is much more oil to be foun...Megan, I believe there is much more oil to be found, but I also believe it is going to be increasingly difficult and expensive to find. That brings us to another aspect of the price mechanism. It can tell us when it is profitable to look for substitutes. There are likely a number of things that could provide much of our energy, they are just too expensive to use. Rising prices will make them viable economic alternatives.Tim Schillinghttps://www.blogger.com/profile/09159198592921510105noreply@blogger.comtag:blogger.com,1999:blog-1735628051336217048.post-54867457654014906292010-04-21T23:22:47.665-04:002010-04-21T23:22:47.665-04:00I do believe that oil is a resource that is limite...I do believe that oil is a resource that is limited. You can keep digging all you want, but that is only going to cost more money, and for what? Since technology is improving so much as they say, why don’t people start finding an alternative for oil?Megan M. Oramahttps://www.blogger.com/profile/13154697518703267990noreply@blogger.com