An Increase in the Price of a Resource Would Cause

question 102

Multiple Choice

An increase in the price of a resource would cause:

• A) producers to substitute other inputs for the resource.
• B) consumers to substitute other products for goods that increase in price as the result of the higher resource price.
• C) an increase in the demand for products that use the resource intensely.
• D) both (a) and (b) to occur.

---

Definitions:

Labor

The process of childbirth, from the start of uterine contractions to delivery.

Contractions

A feature of natural language syntax involving the shortening of words or phrases, commonly used in informal speech and writing.

REM Sleep

A phase of sleep characterized by rapid eye movement, vivid dreaming, and increased brain activity, playing a crucial role in emotional and cognitive well-being.

Non-REM Sleep

The portion of sleep that is not associated with rapid eye movement, characterized by slower brain waves and considered critical for restorative sleep.