The Earliest Forms of Life on Earth Are Found in Rocks

question 2

Multiple Choice

The earliest forms of life on earth are found in rocks that are estimated to be

• A) 1 million years old.
• B) 4 million years old.
• C) 1 billion years old.
• D) 3.5 billion years old.
• E) 4.6 billion years old.

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Definitions:

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold, highlighting the additional revenue from selling one more unit.

Price-Taker Markets

Markets in which individual sellers or buyers cannot affect the market price due to their small size relative to the market as a whole.

Market Price

The actual selling price of goods or services available in the marketplace at any given time.

Marginal Revenue

Marginal revenue is the additional income earned from selling one more unit of a good or service.