Which of the following about backstop technologies and nonrenewables is NOT true? Select one:
a. A subsidy that decreases the price of a backstop will decrease the current price of oil, and consumption of oil will increase.
b. A backstop technology is a perfect substitute for non-renewable resource that can be produced in any amount at constant (usually high) price.
c. When the price of the non-renewable reaches the price of the backstop, we switch to using the backstop technology.
d. Subsidizing renewables may have unintended consequence of pushing consumption of fossil fuels further into the future.
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