Detecting a Planet Around Another Star Using the Transit Method

question 1

Multiple Choice

Detecting a planet around another star using the transit method is difficult because

• A) the planet must pass directly in front of the star.
• B) the planet must have a rocky composition.
• C) the star must be very dim.
• D) the star must be moving with respect to us.

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Definitions:

Maximum Willingness to Pay

The highest amount a consumer is willing to spend on a good or service, reflecting the perceived value.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

Rational

Related to decision-making, denotes behavior in accordance with logic or reason, where choices are made to maximize self-interest or outcome.

Inelastic

Characterizing a situation where a change in price leads to a relatively small change in the quantity demanded or supplied.