What Is a Possible Cause of the Extinction Event Called

question 50

Multiple Choice

What is a possible cause of the extinction event called the Great Dying?

• A) a meteorite impact that killed the dinosaurs
• B) a great outpouring of lava at the end of the Paleozoic
• C) a sudden increase in the oxygen content of the atmosphere during the Precambrian
• D) a new kind of super predator that devoured nearly all of the life in the oceans

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Definitions:

Marginal Cost

The augmentation in total costs associated with the production of an additional unit of a product or service.

Cartel

A group of independent market participants who collude to control prices and production in order to monopolize a market.

Fixed Cost

Costs that do not change with the level of output, such as rent or salaries.

Cartel

A formal agreement among competing firms to control prices or exclude entry of a new competitor in the market, often resulting in higher prices.