The Cambrian Explosion Resulted in the Evolution of More Than

question 44

Multiple Choice

The Cambrian explosion resulted in the evolution of more than 17,000 species of an animal known as the trilobite.The sheer number of trilobite fossils found in modern times suggests that trilobites were very abundant,perhaps the rulers of the seas.Today,no living descendants of this group exist.What happened?

• A)Because trilobites evolved before the first mass extinction,it is possible that any of the five mass extinctions could have wiped out the entire group.
• B)In order to disappear from the planet entirely,trilobites must have undergone the process of adaptive radiation.
• C)It is unlikely that trilobites could have survived the increase in atmospheric oxygen once the process of photosynthesis had evolved.
• D)Being so plentiful,trilobites must have been the major food source for terrestrial dinosaurs. The extinction of the trilobite may have caused the mass extinction of dinosaurs.

Interpret the financial impact of actual performance versus planned (budgeted) performance.

Determine sales variances, including sales price and sales volume variances.

Understand the computation and significance of absorption rates in standard costing.

Analyze production efficiency through direct labor hour variances.

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Definitions:

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both private costs and any externalities.

Nonexcludable

A characteristic of public goods where it is not possible to prevent individuals from using the good or service, regardless of whether they have paid for it.

Free-rider Problem

A situation in which some individuals benefit from resources or services without paying for them, leading to underprovision of those goods or services.

Marginal Private Benefit

The additional benefit received by the consumer or producer from consuming or producing one more unit of a good or service.