Rare Earth Metals Are Used to Manufacture Some Important Electronic

Multiple Choice

Rare earth metals are used to manufacture some important electronic components in popular products like cell phones. These metals are not really rare, but they are expensive to extract from the ground. What happens to the market for the rare earth metals if these extraction costs increase?

A) Demand curve shifts leftward
B) Demand curve shifts rightward
C) Supply curve shifts leftward
D) Supply curve shifts rightward