If Consumers Paid the Full Market Cost of Mineral Extraction

question 59

Multiple Choice

If consumers paid the full market cost of mineral extraction and processing, all of the following would occur, except

• A)Harmful environmental effects would be reduced.
• B)Economies would collapse.
• C)Recycling would increase dramatically.
• D)Minerals would be replaced with less harmful substitutes.
• E)Reuse would increase.

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Definitions:

Oligopolist

A firm in an industry with only a small number of producers.

Monopolist

A single seller in a market who has significant control over the supply of a particular good or service, often leading to less competition and higher prices.

Tit-For-Tat

A strategy in game theory where a participant mimics the actions of their opponent, typically in retaliation or as a form of reciprocal behavior.

Cooperatively

This term describes actions or operations done jointly by a group or parties working together towards a common goal or benefit.