Indicate whether the following statements are true(T) or false(F).

A-If any of the assumptions of scarcity, constant marginal mining costs, and competition are notmet, the price of an exhaustible resource will rise.

B-Most exhaustibleresources, such asaluminum, coal,lead, naturalgas, silver, andzinc, have had decades long periods of falling or constant real prices.

C-The initial price of a resource is set at the marginal cost of extraction if the exhaustible resource is not scarce.

D-The gap between the price and the marginal extraction cost grows inversely with the interest rate.

E-If the resource is so abundant that the initial gap between the price and the marginal extraction cost iszero, the gap grows.

F-The real prices for many exhaustible resources have risen for decades.

G-Over long periods oftime, steady technical progress has reduced the marginal cost of mining many natural resources and has thereby lowered the price of those exhaustible resources.

H-Changes in market structure can result in either a rise or a fall in the price of an exhaustible resource.

Please state if the above statements are TRUE OR FALSE. Explain your answers. Do not copy from other solutions. Thank you.