If an Exhaustible Resource Is Scarce,has Constant Marginal Cost Over

question 119

Multiple Choice

If an exhaustible resource is scarce,has constant marginal cost over time,and is sold in a competitive market,then

• A) its price increases over time.
• B) its price will not be a function of the interest rate.
• C) its price moves independently of past prices.
• D) its price equals marginal cost.

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Definitions:

"g" Factor

A term in psychology that refers to the general intelligence factor, believed to represent the common skills and abilities that underlie all intelligent behavior.

Correlate Poorly

Describes a weak or nonexistent relationship between two variables or factors.

Spearman's "g" Factor

A theory suggesting that general intelligence ("g") underlies all cognitive abilities, meaning that individuals who perform well in one cognitive domain tend to perform well in others.

Intellectual Abilities

Cognitive capacities that include reasoning, problem solving, planning, abstract thinking, complex idea comprehension, learning from experience, and more.