Forecasts of an inevitable exhaustion of essential natural resources are "simply beside the point" because higher prices
A)reduce quantity demanded.
B)stimulate supply.
C)stimulate alternative technology.
D)All of the above are true.

Question

Quizplus · Accepted Answer

Higher prices of essential natural resources will reduce the quantity demanded, stimulating the use of alternative technology and also increase the supply as companies try to capitalize on the high prices. Therefore, all the options are true.

Forecasts of an Inevitable Exhaustion of Essential Natural Resources Are