The Main Problem with Libya's New Drinking Water System Is

question 22

Multiple Choice

The main problem with Libya's new drinking water system is that underground aquifers are not considered __________.

• A)a renewable resource
• B)a resource to be owned
• C)potable
• D)extensive enough
• E)fresh

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Definitions:

Sunk Costs

Sunk costs refer to expenses that have already been incurred and cannot be recovered, and therefore should not affect future business decisions.

Opportunity Costs

The missed opportunity to benefit from different options when a single choice is made.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Diseconomies of Scale

The phenomenon where an increase in production leads to higher costs per unit due to inefficiencies that arise from scaling up operations.