You Find an Old Tree Stump in a Forest and Would

question 57

Multiple Choice

You find an old tree stump in a forest and would like to use it for tree- ring analysis, but you don't know when the tree was cut down. The best way to establish dates for the analysis is to:

• A) compare patterns in the tree rings to ring chronologies sampled from nearby trees on known dates.
• B) assign small rings to years of known droughts.
• C) estimate the age of the tree stump based on the level of decay it has experienced.
• D) submit the tree stump to carbon- 14 dating analysis.

---

Definitions:

Supply and Demand Elasticity

The measure of how much the quantity demanded or supplied responds to a change in price, indicating the sensitivity of consumers and producers to price changes.

Total Revenue

The total amount of money received by a company from sales of its products or services.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in market stability.

Inelastic Demand

Inelastic demand occurs when consumers' purchase quantity does not significantly change in response to a change in the price of the product.