Engineering Economics
What is defined as the reduction of the value of certain natural resources such as mines, oil, timber, quarries, etc. due to the gradual extraction of its contents?

Deflation
Depletion
Depreciation
Inflation

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Engineering Economics
Perfect monopoly exists only if:

the single vendor is the only one who has the permit to sell
the single vendor can prevent the entry of all other vendors in the market
the single vendor gets the absolute franchise of the product
the single vendor is the only one who has the knowledge of the product

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