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Ecologists Using Global Carbon-Balance Models Were Overestimating the Rate of Increase

question 14

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Ecologists using global carbon-balance models were overestimating the rate of increase of atmospheric carbon dioxide. This discovery led these ecologists to


Definitions:

Utility

The satisfaction or benefit derived by consumers from consuming a good or service.

Expected Utility

A concept in economics that represents the sum of utilities associated with all possible outcomes, weighted by the probability of each outcome.

Utility

A measure of the satisfaction or happiness that consumers get from consuming goods or services.

Probability

A measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

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