The Only Substance on Earth That Occurs Naturally as a Liquid

question 49

Multiple Choice

The only substance on Earth that occurs naturally as a liquid, a solid, and a gas is ____. ​

• A)argon
• B)oxygen
• C)carbon dioxide
• D)water
• E)iron

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Definitions:

Marginal Revenue

The supplementary earnings obtained through the sale of one extra product or service unit.

Imperfectly Competitive Producers

Producers in a market structure where they have some control over the price of their products due to a lack of perfect competition.

Downsloping Demand Curves

A graph that illustrates the inverse relationship between the price of a good and the quantity demanded by consumers; as price decreases, the quantity demanded increases.

Inelastic Segment

Part of a demand curve where the quantity demanded changes very little with a change in price, indicating consumers' relative insensitivity to price changes.