You Have a Choice to Drill Your Water Well into a Shallow,unconfined

question 6

Multiple Choice

You have a choice to drill your water well into a shallow,unconfined aquifer or a deeper artesian aquifer.Drilling deeper will cost more money;however,you chose to drill into the artesian aquifer.Why?

• A)The artesian aquifer will have a higher permeability.
• B)The artesian aquifer will not be subject to overpumping.
• C)The artesian aquifer will flow on its own,without a pump.
• D)The artesian aquifer will contain more water for your use.

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Definitions:

Demand Curve

A chart that illustrates how the demand for a product varies with its price, usually showing a downward trend.

Profit-Maximizing Level

The level of production at which a firm achieves the maximum possible profit.

Unit Elastic

A situation where a one percent change in price leads to an exactly one percent change in the quantity demanded or supplied.

Profit Maximizing

The process or strategy of setting production levels or prices to achieve the highest possible profit given production costs and market conditions.