Which of the following statements is false?
A)In a competitive market, the price mechanism encourages conservation of a depletable resource.
B)As the price of a depletable resource rises, its known reserves often increase.
C)Prices of depletable resources have risen in the twentieth century primarily because resource producers have exercised monopoly or oligopoly power.
D)Shortages of depletable resources occur primarily when governments or others interfere with the price mechanism.

Question

Quizplus · Accepted Answer

Prices of depletable resources have primarily risen due to increasing demand and/or declining supply, not solely due to monopoly or oligopoly power of resource producers.

Which of the Following Statements Is False