Red Tide Is a Phenomenon That Results from the Overgrowth

question 44

Multiple Choice

Red tide is a phenomenon that results from the overgrowth of certain ocean algae. The toxin produced by red tide that can cause shellfish poisoning is called

• A) shellfish toxin.
• B) brevetoxin.
• C) aflatoxin.
• D) red toxin.

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Definitions:

Marginal Cost

The rise in expenses associated with the production of an extra unit of a product or service.

Price-searcher Firm

A company that determines the price of its products based on demand and supply conditions rather than prevailing market prices.

Competitive Price-searcher

A market scenario where sellers actively seek out buyers by setting prices independently to capture consumer demand.

Raise Price

The act of increasing the cost at which a good or service is sold, which can affect demand, revenue, and profit margins.