When Considering the Growth of the Human Population, How Is

question 8

Multiple Choice

When considering the growth of the human population, how is the annual growth rate determined?

• A) The average number of births for the whole population is subtracted from the average number of deaths for the whole population.
• B) The average number of deaths for the whole population is subtracted from the average number of births for the whole population.
• C) The number of births for the whole population over an entire year is averaged together.
• D) The number of births for the whole population is averaged and added to the number of immigrants for the year.

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Definitions:

Marginal Cost

The change in total production cost that arises when the quantity produced is incremented by one unit.

Total Profit

The total income earned by a firm after deducting all costs and expenses from total revenue.

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of others remain unchanged.

Profit-Maximizing

Refers to the process or strategy by which a firm selects outputs at which its profits are maximized, achieved by equating marginal revenues to marginal costs.