Explain What the Differences Are Between Aa and Pahoehoe Basaltic

question 63

Essay

Explain what the differences are between aa and pahoehoe basaltic lava and identify what their magma chemistry is.

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Definitions:

Normal Profits

The minimum level of profit needed for a company to remain competitive in the market, also seen as the opportunity cost of capital.

Purely Competitive Firm

A business operating in a market where there are many buyers and sellers, with none being able to influence prices significantly by their individual actions.

Costs

The value of resources consumed in the production of goods and services, including both fixed and variable expenses.

Differentiated Product

A product that is distinct in some way from others in the same category, allowing the seller to compete on factors other than price.