When the Earth,Moon,and Sun Are in Alignment,this Is Called a ______

question 75

Multiple Choice

When the Earth,Moon,and Sun are in alignment,this is called a ______ tide.

• A) neat
• B) spring
• C) fall
• D) neap
• E) This cannot happen.

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Definitions:

Long Run

A period in which all factors of production and costs are variable, allowing firms to adjust to market changes fully.

Marginal Cost

The expense associated with manufacturing an extra single unit of a product or service.

Profit Maximizing

The process of adjusting production and sale strategies to achieve the highest possible profits.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues; represents the extra amount over the payment needed to keep a resource in its current use.