Which of the Following Constitutes a Prediction Rather Than a Forecast

question 13

Multiple Choice

Which of the following constitutes a prediction rather than a forecast for a natural event?

• A) The tsunami from today's massive earthquake near Alaska will arrive in Hilo, Hawaii at 2 PM.
• B) Landslides are expected in the Tacoma, WA area throughout the weekend.
• C) Tremors from an earthquake may cause damage to poorly built structures.
• D) There is a 50% chance of thunderstorms in the Seattle region on Saturday.
• E) Four to five inches of rain may fall with the Category 2 storm off of the coast of Alabama.

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Definitions:

Fixed Cost

Costs that do not change with the level of output or production, such as rent, salaries, and insurance.

Market Price

The actual selling price of a good or service in the marketplace at any given time.

Marginal Revenue

The increase in income a business achieves through the sale of one extra unit of a product or service.

Marginal Cost

The extra charge involved in producing an additional unit of a product or service.