A "Backstop Resource" Is a Close Substitute for a Depletable

question 167

Multiple Choice

A "backstop resource" is a close substitute for a depletable resource that is available in almost unlimited supply but at a higher cost.Shale oil is a backstop resource for crude oil.Which of the following statements is correct?

• A)The production of shale oil is likely to increase over time even if crude oil is still available.
• B)Shale oil is unlikely to be produced until all the crude oil has been depleted.
• C)The existence of shale oil as a backstop resource will discourage firms from seeking new reserves of crude oil.
• D)In the future, shale oil is likely to be produced at the same time as crude oil and to sell for a lower price.

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Definitions:

Phagocytes

Cells that protect the body by ingesting harmful foreign particles, bacteria, and dead or dying cells.

Granulocytes

A type of white blood cell that contains granules in its cytoplasm, involved in inflammatory and immune responses.

Blood Smear

A laboratory test that involves spreading a thin layer of blood onto a microscope slide to be examined for the presence, count, and properties of its cells.

Formed Elements

The cellular components of blood, including red blood cells, white blood cells, and platelets.