Temperatures on the Earth Are Moderated by the Presence of So

question 50

Essay

Temperatures on the Earth are moderated by the presence of so much water on the planet.Using your understanding of water's temperature-moderating abilities,predict what would happen to temperatures in the tropical and temperate regions if the oceans were made of alcohol instead of water.(Hint: Water has a higher specific heat than alcohol.)

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Definitions:

Long-Run Equilibrium

A state in a market where all resources are optimally allocated and economic forces are balanced, with no tendency for change until external conditions change.

Perfect Competition

A market structure characterized by many sellers and buyers, homogeneous products, and free entry and exit, resulting in price takers.

Economic Profit

The difference between a business's total revenue and its total costs, including both explicit and implicit costs.

Long-Run Supply Curve

A graphical representation showing the relationship between price and quantity supplied over time, factoring in adjustments in factors of production.