Carbonized Fossils of Opabina, Ottoia, and Wiwaxia Would Have to Come

question 95

Multiple Choice

Carbonized fossils of Opabina, Ottoia, and Wiwaxia would have to come from the ________.

• A)Cretaceous continental shales like those at Drumheller, Alberta
• B)Devonian reefs of the Western Canada Basin
• C)Middle Cambrian Burgess Shale of Yoho Park, British Columbia
• D)Precambrian Ediacaran Fauna such as at Mistaken Point, Newfoundland

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Definitions:

Price Effect

The change in the quantity demanded of a good or service caused by a change in its price.

Deadweight Loss

The loss of economic efficiency that occurs when the equitable market outcome is not achieved, often due to taxes, subsidies, or artificially imposed prices like price ceilings or floors.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information that leads to firms being price takers.

Short-Run Supply Curve

A graphical representation showing the quantity of goods a firm is willing and able to supply at different prices in a given short-term period, holding some factors constant.