Which of the Following Occurs During a Major El Niño

question 57

Multiple Choice

Which of the following occurs during a major El Niño event?

• A)Peruvian fishermen harvest a record amount of fish near Christmas time.
• B)British Columbia experiences severe drought conditions.
• C)The northeast trade winds increase in strength.
• D)Ocean warming is extensive over the tropical Pacific.

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Definitions:

ATC Curve

The average total cost curve, which plots the per-unit total cost of producing goods at different levels of output.

Opportunity Cost

Represents the benefits that are missed or foregone when choosing one option over another.

Implicit Costs

Costs that represent the opportunity costs of using resources that the firm already owns, not involving direct monetary payment.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting an activity or business operation.