Figure 311 Below Depicts the Outline of a Large Fairy Ring

question 6

Multiple Choice

Figure 31.1 below depicts the outline of a large fairy ring that has appeared overnight in an open meadow, as viewed from above. The fairy ring represents the furthest advance of this mycelium through the soil. Locations A-D are all 0.5 meters below the soil surface. Responses may be used once, more than once, or not at all.


-Lichens are symbiotic associations of fungi and

• A)mosses.
• B)cyanobacteria.
• C)green algae.
• D)either A or B
• E)either B or C

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Definitions:

Normal Return

The minimum profit necessary for a company to remain viable in its industry, often considered the opportunity cost of capital.

Own Capital

The value of the assets owned by a company or individual that are used in the production process or for investment purposes.

Short Run

A period in which at least one of a firm's inputs is fixed, limiting the firm’s ability to increase production.

Industry Entry

The act of beginning or entering into a specific market or field of business.