Forecasts of an inevitable exhaustion of essential natural resources are "simply beside the point" because higher prices (i) reduce quantity demanded; (ii) stimulate supply; (iii) stimulate alternative technology.
A)i only.
B)ii only.
C)iii only.
D)i, ii, and iii.

Question

Quizplus · Accepted Answer

The statement mentions three ways in which higher prices can address the issue of exhaustion of natural resources - by reducing quantity demanded (i), stimulating supply (ii), and stimulating alternative technology (iii). Therefore, all three options (i, ii, and iii) are correct, making option D the best choice.

Forecasts of an Inevitable Exhaustion of Essential Natural Resources Are