Which One of the Following Is an Important Fundamental Assumption

question 67

Multiple Choice

Which one of the following is an important fundamental assumption underlying the plate tectonic theory?

• A) Earth's magnetic field originates in the outer core.
• B) Radioactive decay slows down at the extreme pressures of the inner core.
• C) Earth's ocean basins are very old and stable features.
• D) Earth's surface area has been essentially constant over time.

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Definitions:

Average Cost

The total cost of production divided by the quantity produced, measuring the cost on a per-unit basis.

Surplus

When the quantity supplied of a commodity surpasses the quantity demanded, often resulting in a decrease in price to balance the disparity.

Monopolist

An individual or entity that has exclusive control over the production and selling of a particular good or service.

Deadweight Loss

The decrease in economic effectiveness due to the inability to achieve or the unachievable status of market equilibrium for a specific good or service.