Prior to the 1987 Montréal Protocol,there Existed Some Uncertainty in the Scientific

question 55

Multiple Choice

Prior to the 1987 Montréal Protocol,there existed some uncertainty in the scientific community as to the magnitude of ozone depletion caused by CFCs in the atmosphere.Nevertheless,the protocol did recommend phasing out CFCs from refrigerants and other uses because the potential consequences of not doing so were so severe.This is an example of applying the _______________ principle.

• A)uncertainty
• B)guilty-until-proven-innocent
• C)precautionary
• D)utopian
• E)better-safe-than-sorry

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.

Demand Increases

A situation wherein there is a rise in the quantity of a product or service sought after by consumers at a given price level.

Equilibrium Price

The price level at which the amount of products available for sale matches the amount consumers want to buy.

Equilibrium Quantity

The quantity of goods or services supplied that is exactly equal to the quantity demanded at the market equilibrium price.