The Purpose of Daylight Savings Time Is to

question 72

Multiple Choice

The purpose of Daylight Savings Time is to

• A)allow an extra hour per day for crops to grow during the growing season,at the expense of an hour per day when crops are not in the ground.
• B)provide an extra hour of daylight in the evening hours,to conserve energy,at the expense of an hour of daylight in the morning hours.
• C)adjust for variations in the speed of Earth's orbit around the Sun at different times of the year.
• D)allow the Greenwich Mean Time system to represent the actual position of the Sun in the sky more accurately.

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Definitions:

Optimal Output

The level of production that maximizes a firm's profit, or the most efficient allocation of resources in producing a good or service.

Price to Clear

The price to clear is the market price at which the quantity supplied equals the quantity demanded, thereby clearing the market without leaving surplus or shortage.

Perfectly Competitive Industry

A Perfectly Competitive Industry is characterized by many sellers and buyers, free entry and exit, and a product that is identical across suppliers, leading to no single entity having market control.

Marginal Cost

The additional cost of producing one extra unit of a good or service.