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Economic theory predicted that the price of a depletable resource would rise by 10 percent. In reality, the price fell by 5 percent. Which of
Economic theory predicted that the price of a depletable resource would rise by 10 percent. In reality, the price fell by 5 percent. Which of the following events could explain this discrepancy?
a.Antitrust enforcement broke up a cartel among major suppliers of the resource.
b.Known reserves of the resource were depleted.
c.The government imposed an effective price floor.
d.The interest rate rose by 15 percent.
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