What Is Nitrogen Fixation

question 48

Multiple Choice

What is nitrogen fixation?

• A) The reduction of NO₃− to NH₄⁺.
• B) The formation of NH₄⁺ from N₂ gas.
• C) The oxidation of NH₄⁺ to N₂.
• D) The oxidation of NH₄⁺ to NO₃−.
• E) The formation of NO₂− from NO₃−.

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Definitions:

Economic Profit

The financial contrast between aggregate income and total spending, factoring in both specific and vague costs.

Identical Cost Curves

Cost curves that are exactly the same for all firms in a market, usually indicative of perfect competition.

Long-run Equilibrium

A state in market-based economies where all factors of production are fully utilized, leading to no further economic incentive for reallocation.

Minimized Average Total Cost

The point at which a firm achieves the lowest possible cost per unit of production by optimizing the scale of production.