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When oxygen, O2, is passed through an electrical spark (lightning is a good natural source of an electrical spark), ozone, O3 is formed. Write and balance the equation.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single participant can significantly influence price or supply.
Marginal Cost
The change in total cost that arises when the quantity produced is incremented by one unit.
Average Variable Cost
The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output.
Marginal Cost
The price of fabricating another unit of a good or service.
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