You Have Been Given the Extraordinary Opportunity to Take Alvin

question 2

Multiple Choice

You have been given the extraordinary opportunity to take Alvin (a submersible) down into the Atlantic Ocean to examine how the seafloor sediments have changed throughout geologic history.You can use Alvin in only one location,however.Where do you pick to visit to get the most out of your trip inside Alvin?

• A)down along the Mid-Atlantic Ridge
• B)any spot in the abyssal plain
• C)just off the coast of Iceland
• D)just off the coast of North America

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Definitions:

Maximum Profit

The highest possible financial gain a firm can achieve when the difference between total revenue and total cost is at its greatest.

Economic Profit

The split between a firm's entire proceeds and its total disbursements, embracing both acknowledged and veiled costs.

Normal Profit

The minimum profit necessary for a company to remain competitive in the market, equating to the opportunity cost of the resources employed.

Normal Profit

The minimum level of profit necessary for a company to remain competitive in the market, often considered the break-even point.