The supply curve of a depletable natural resource is usually
A)downward sloping because the resource runs out over time.
B)upward sloping because more of the resource can be profitably extracted at higher prices.
C)upward sloping because the price of the resource rises over time.
D)vertical because the supply of the resource is fixed.

Question

Quizplus · Accepted Answer

The supply curve of a depletable natural resource is typically upward sloping because as the price increases, it becomes more profitable to extract resources that are more costly to access.

The Supply Curve of a Depletable Natural Resource Is Usually