Economic theory predicts that the price of a depletable resource will rise as it becomes more scarce.

Name: Economic theory predicts that the price of a depletable resource will rise as it becomes more scarce.
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Quizplus · Accepted Answer

This is a fundamental principle in economics known as the Law of Supply and Demand. As a resource becomes more scarce, the supply decreases, while the demand remains constant or increases. This leads to an increase in the price of the resource.

Economic Theory Predicts That the Price of a Depletable Resource