If the Planet's Average Temperature Rises Several More Degrees During

question 15

Multiple Choice

If the planet's average temperature rises several more degrees during the twenty-first century,

• A)a large portion of the polar icecaps will melt, flooding much of the coastal United States.
• B)evaporation would drop sea levels about one foot.
• C)the rains forests would quickly expand to cover the planet.
• D)about half of current living species would be unable to survive.

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Definitions:

Explicit Cost

Direct, out-of-pocket payments for resources employed in the production of goods or services.

Marginal Cost

The additional cost incurred by producing and selling one more unit.

Fixed-Cost Fallacy

Consideration of costs that do not vary with the consequences of your decision (also known as the sunk-cost fallacy).

Depreciation Costs

The allocation of the cost of a tangible asset over its useful life, representing the decline in value due to wear and tear, age, or obsolescence.