As You Have Learned in Chapter 16, Global Warming Is

question 48

Multiple Choice

As you have learned in Chapter 16, global warming is taking place. Some sources estimate that the temperature on Earth will increase about 0.5 degrees Celsius over a 100-year period. Although scientists do not agree on the amount of increase, let's presume that this will result in an approximate seven-inch rise in sea level. Let's look at town A that has an average nightly temperature of 22 degrees Celsius. Some species of pythons have been released by overwhelmed owners and are breeding in more southern locations. These snakes require a nighttime temperature no lower than 25 degrees Celsius. In how many years will the pythons be able to survive in town A?

• A) in 60 years
• B) in 600 years
• C) in 1200 years
• D) in 1500 years

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Definitions:

Shutdown Rule

A short-term economic decision rule stating that a firm should continue operating if the revenue covers variable costs, even if it cannot cover fixed costs in full.

Average Variable Cost

The variable cost (such as raw materials, direct labor) per unit of output, calculated by dividing total variable costs by the quantity of output.

Zero Output

A situation where a business or economic process results in no production or creation of goods or services, often indicating a shutdown or inefficiency.

Profit Maximizing

refers to a firm's goal of achieving the highest possible profit, where marginal costs equal marginal revenue, guiding pricing and production decisions.