The Best Scientific Data and Models Suggest That the Universe

question 16

Multiple Choice

The best scientific data and models suggest that the universe is

• A) open,expanding,and accelerating.
• B) open,expanding,but decelerating.
• C) closed,expanding,and accelerating.
• D) closed,expanding,but decelerating.
• E) flat,expanding,and accelerating.

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Definitions:

LRAC Curve

Long-Run Average Cost Curve, a graphical representation showing the minimum cost at which any output level can be produced in the long run.

Exiting Firms

Businesses that are leaving a particular market due to various reasons such as unprofitability, strategic realignment, or market saturation.

Increasing-Cost Industry

An industry in which production costs increase as the industry's output expands.

Constant-Cost Industry

An industry where the cost of production does not change as the industry's output changes.