The Phosphorus in All Biological Tissues Can Traced Back to _______________

question 32

Multiple Choice

The phosphorus in all biological tissues can traced back to _______________

• A)atmospheric phosphorus gas
• B)volcanic activities
• C)phosphorus dissolved in the ocean and taken up by shellfish
• D)phosphorus in animal bones
• E)phosphorus weathered from rock

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Definitions:

Minimum Efficient Scale

The minimum efficient scale is the lowest point of production where a firm can achieve the economies of scale, reducing its cost per unit to the minimum.

Economic Profits

The surplus or profit gained by a firm after subtracting all its costs, including both explicit and implicit costs, from its total revenues.

Accounting Profits

The net income for a company calculated by subtracting total expenses from total revenues, according to standard accounting practices.

Short Run

A period of time in economics during which at least one input, such as plant size, is fixed and cannot be changed.