What Causes Seasons

question 21

Multiple Choice

What causes seasons?

• A) differences in the amount of daylight
• B) the changing tilt angle of the earth
• C) seasonal changes in the angle of the sun above the horizon
• D) the elliptical orbit of the earth
• E) none of the above

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Definitions:

Average Revenue

The income a business earns from each unit sold, determined by dividing the total income by the total quantity of units sold.

Profit-Maximizing

A company's goal or strategy of adjusting production and sale levels to achieve the highest possible profit under given market conditions.

Market Price

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

Perfectly Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a homogeneous product.