Under Perfect Competition, the Price of a Depletable Resource Whose

question 76

Multiple Choice

Under perfect competition, the price of a depletable resource whose cost of extraction is not changing must rise at

• A)the same rate as the increase in GDP.
• B)the same rate as the increase in consumer prices.
• C)the same rate as the rate of interest.
• D)a rate higher than the increase in the rate of interest.

---

Definitions:

Continental Ecosystems

Large-scale ecosystems that encompass the diverse biological communities found within a continent's various habitats.

Successional Communities

Communities of plants and animals that gradually replace one another over time, following disturbance, leading to a more stable ecosystem known as a climax community.

Competition

An interaction between organisms or species, in which the fitness of one is lowered by the presence of another due to the shared consumption of a limited resource.

Beneficial

Refers to something that produces good or helpful results or effects.