Multiple Choice
Economic theory predicted that the price of a depletable resource would rise by 10 percent.In reality, the price fell by 5 percent.Which of the following events could explain this discrepancy?
A) Known reserves of the resource were depleted.
B) The interest rate rose by 15 percent.
C) Antitrust enforcement broke up a cartel among major suppliers of the resource.
D) The government imposed an effective price floor.
Correct Answer:
Verified
Correct Answer:
Verified
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