When Price = ATC = MC = MR

question 30

Multiple Choice

When price = ATC = MC = MR,

• A)economic profits are positive.
• B)economic profits are zero.
• C)economic profits are negative.
• D)opportunity costs are zero.
• E)opportunity costs are negative.

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Definitions:

Rifted Apart

A geographical term describing the process by which tectonic plates move away from each other, creating rift valleys or separating landmasses.

Oceanic Plateau

A large, flat, elevated area of the seabed formed by volcanic activity, often found in the middle of ocean basins.

Hot Spot

A volcanic region thought to be fed by underlying mantle that is anomalously hot compared with the surrounding mantle.

Transform Boundary

A type of tectonic plate boundary where plates slide past each other horizontally, causing seismic activity.