Label the following as True, False, or Uncertain and explain your choice. (Uncertain means that it can be either true or false depending upon the circumstances.)

a. All members of a resource cartel share a common objective—increase prices as much and as soon as possible.

b. By holding prices lower than they would otherwise be, placing a price control on a depletable resource increases both the speed with which the resource is extracted over time and the cumulative amount ultimately extracted.

c. A price control actually has no influence on the extraction path of a depletable resource until such time as the market price actually reaches the level of the price control.

d. Forcing companies that drill offshore for oil to compensate victims of any oil spill from one of its facilities would be an efficient requirement.