What Was the Most Important Factor in Predicting How the 2010

question 44

Multiple Choice

What was the most important factor in predicting how the 2010 Deepwater Horizon oil spill would travel?

• A)Density of the oil
• B)Patterns of oceanic and atmospheric circulation
• C)Thickness of the spill
• D)Ocean floor bathymetry

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Definitions:

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive (higher market price).

Market Equilibrium

A condition in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Producer Surplus

The difference between the amount a producer is paid for a good and the minimum amount they would be willing to accept.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.