The Demand Curve for a Good That Has Many Perfect

question 1

Multiple Choice

The demand curve for a good that has many perfect substitutes in consumption is likely to be

• A)upward sloping
• B)steep
• C)highly inelastic
• D)horizontal
• E)vertical

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Definitions:

Plankton

Small and often microscopic organisms that drift or float in water, forming the base of aquatic food webs.

Primary Productivity

The rate at which plants and other photosynthetic organisms produce organic compounds (such as carbohydrates) from carbon dioxide and water in the presence of sunlight, which serves as the basis for most food chains.

Photic

Pertaining to the upper layer of a body of water that is illuminated by sunlight, allowing photosynthesis to occur and supporting the majority of aquatic life.

Epipelagic

Relating to the upper layer of the ocean, from the surface to about 200 meters deep, where there is enough sunlight for photosynthesis.