Consider the following statement. VIRGO HODLER: “Bitcoin’s price will keep going up because there is a fixed quantity of Bitcoin that can be mined, and therefore supply is fixed . All of you who are into gold and silver bullion are cringe. #Poggers!” What is the main economic problem with Virgo Hodler’s argument? (A) Demand also factors into price. (B) Even if quantity is fixed, market supply can fluctuate. (C) Ad Hominem. (D) A and B.

Consider the following statement. VIRGO HODLER: “Bitcoin’s price will keep going up because there is a fixed quantity of Bitcoin that can be mined, and therefore supply is fixed . All of you who are into gold and silver bullion are cringe. #Poggers!” What is the main economic problem with Virgo Hodler’s argument? (A) Demand also factors into price. (B) Even if quantity is fixed, market supply can fluctuate. (C) Ad Hominem. (D) A and B.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 5QP

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