Helium is a gas in short supply because it takes thousands of years to form. The US government owns $35\%$ of the world’s helium supply and has been selling its stocks. Helium is needed in medical scanners. It is also used for party balloons, which is an inefficient alternative use of a valuable good. Which two concepts apply to this statement?
- Ademand and supply, government subsidy
- Bexcess demand, resource allocation
- Copportunity cost, private monopoly
- Dpublic sector, factors of production