A Fossil Is Found in a Layer of Strata Above

question 109

Multiple Choice

A fossil is found in a layer of strata above another layer dated at 10 million years and below another layer dated at 5 million years. From this we can deduce the age of the fossil to be

• A) older than 10 million years
• B) younger than 5 million years
• C) we can tell nothing about the fossil's age from this data
• D) between 5 and 10 million years old

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Definitions:

Total Costs

The full price of manufacturing, which includes both constant and fluctuating expenses.

Labor Cost

The total expenditure incurred by a company to pay its employees, including wages, benefits, and taxes.

Total Cost Ratio

Represents the sum of all costs (fixed and variable) associated with production, expressed as a ratio over a specific period.

Elasticity

An economic measure of the responsiveness of the quantity demanded or supplied of a good or service to changes in its price or consumer income.