Economic theory posits that a resource that is finite and being depleted will rise in price continuously and demand will be reduced.In fact, a recent study, graphing the price behavior of lead, zinc, and copper found that until about 2007,
A)prices rose steadily, as predicted.
B)prices dropped precipitously.
C)prices remained remarkably stable.
D)prices were up and down with no discernible pattern.

Question

Quizplus · Accepted Answer

The study found that the prices of lead, zinc, and copper remained remarkably stable until about 2007, contrary to the economic theory prediction of a continuous rise in price.

Economic Theory Posits That a Resource That Is Finite and Being