In 1985 a Desert Community Stopped Pumping Water from a 1000

question 71

Multiple Choice

In 1985 a desert community stopped pumping water from a 1000 foot well because it had run dry. In 2005 the price of water doubled. The community then drilled the well deeper and started pumping again. In this community,

• A)the supply of water is perfectly inelastic because it is a finite resource.
• B)water production is characterized by increasing opportunity costs.
• C)markets cannot reach equilibrium because there is a persistent shortage of water.
• D)higher water prices can reduce quantity demanded but cannot increase quantity supplied.

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Definitions:

Growth Patterns

The tendencies or trends in physical or psychological development observed over time in individuals or groups.

Sex Differences

Variations between males and females that can be attributed to biological and physiological factors.

Attention Deficit Hyperactivity Disorder

A neurodevelopmental disorder characterized by patterns of inattention, hyperactivity, and impulsivity that interfere with functioning or development.

Inattention

The lack of focus or paying attention, often evident in various contexts such as learning environments, leading to difficulties in completing tasks.