In the Drake Equation (Number of Civilizations = NHP ×

question 106

Multiple Choice

In the Drake equation (Number of Civilizations = NHP × flife × fciv × fnow) ,what do we mean by fnow?

• A)the fraction of planets in the galaxy on which a civilization could theoretically develop right now
• B)the fraction of planets with civilizations at the present time (as opposed to only in the past or future)
• C)the fraction of civilizations in the universe that currently are sending messages to us
• D)the fraction of all species ever to exist that we currently are aware of

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Definitions:

Perfect Competitor

A theoretical market structure where numerous small firms produce identical products, allowing no single firm to affect the market price.

Long Run

In economics, this term describes a period in which all factors of production and costs are variable, allowing full adjustment to any change.

Total Profit

The financial gain made after subtracting all expenses from total revenue.

Profit-Maximizing

A strategy or process employed by businesses to determine the price and output level that returns the highest profit.