Which of the Following Statements Is FALSE

question 23

Multiple Choice

Which of the following statements is FALSE?

• A)Hashish is a concentrated preparation of marijuana.
• B)The active ingredient of marijuana is tetrahydrocannabinol.
• C)Prior to 1970 marijuana was classified as a narcotic drug.
• D)Marijuana is synthesized from the Cannabis sinsemilla plant.

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Definitions:

Increasing-Cost Industry

An industry where the costs of production increase as the output expands, often due to factors like resource depletion and higher input prices.

LRAC Curve

Long-Run Average Cost Curve, showing the lowest cost at which a firm can produce any given level of output in the long run, where all inputs are variable.

Increasing-Cost Industry

An industry in which production costs increase as firms enter the market, often due to limited resources or factors of production.

Industry Supply Schedule

A chart or graph showing the varying quantities of a product that producers are willing to supply at different price levels.