Multiple Choice
According to economic theory, under perfect competition, the price of a depletable resource whose costs of transportation and extraction are negligible
A) is a poor indicator of scarcity.
B) must rise at the rate of interest.
C) will be unable to change to avert running out of it.
D) is too erratic to allow markets to respond to shortages.
Correct Answer:
Verified
Correct Answer:
Verified
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