Fossil Fuels Were Formed From_________

question 24

Multiple Choice

Fossil fuels were formed from_________ .

• A)sodium and calcium incorporated into ancient fossils,seashells,and limestone
• B)nitrogen trapped in rocks during extensive volcanic activity
• C)plants and algae trapped underground millions of years ago
• D)pockets of hydrogen sulfide gas that were trapped beneath bogs and wetlands

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Definitions:

Marginal Cost

The increase in cost resulting from the production of one additional unit of a good or service.

Fixed Input

An input whose quantity is constant and cannot be changed in the short run.

Short Run

A period in economics during which some factors of production are fixed, limiting the ability of a business to fully adjust to market changes.

Long Run

An economic term referring to a period during which all inputs or factors of production can be varied, and there are no fixed constraints.