____ Is the Most Common Element in the Earth's Crust

question 55

Multiple Choice

____ is the most common element in the Earth's crust.

• A) Oxygen
• B) Iron
• C) Magnesium
• D) Hydrogen
• E) Fluorine

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in the open market.

Common Resource

A resource like air or water that is non-excludable and rivalrous, meaning it's impossible to prevent anyone from using it, but one person's use diminishes another person's ability to use it.

Nonexcludable

A nonexcludable good is one where it is not possible to prevent people who have not paid for it from having access to it, typical in public goods.

Marginal Social Benefit

The additional benefit received by society as a whole from consuming one more unit of a good or service.