According to Economic Theory, Under Perfect Competition, the Price of a Depletable

question 212

Multiple Choice

According to economic theory, under perfect competition, the price of a depletable resource whose costs of transportation and extraction are negligible

• A)is a poor indicator of scarcity.
• B)must rise at the rate of interest.
• C)will be unable to change to avert running out of it.
• D)is too erratic to allow markets to respond to shortages.

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Definitions:

Sensory Neurons

Nerve cells that transmit sensory information (sight, sound, feeling, etc.) from the body's receptors to the central nervous system.

Afferent

Referring to neurons or pathways that carry sensory information toward the central nervous system.

Efferent

Relating to nerve fibers that carry impulses away from the central nervous system to effectors such as muscles or glands.

GABA

Gamma-aminobutyric acid, a neurotransmitter in the brain that plays a key role in inhibiting nerve transmission, contributing to motor control, vision, and regulation of anxiety.