Economic theory posits that a resource which 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

Economic theory posits that a resource which 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.

Quizplus · Accepted Answer

The passage states that a recent study found that until about 2007 the price behavior of lead, zinc and copper remained remarkably stable. This contradicts the economic theory that prices of finite and depleted resources will rise continuously. Therefore, the best answer is C - prices remained remarkably stable.

Economic Theory Posits That a Resource Which Is Finite and Being