When a Population Is Small There Is an Abundance of Resources

question 63

Multiple Choice

When a population is small there is an abundance of resources for all individuals, so the per capita resource availability is high, thus leading to more rapid growth rates (as compared to larger populations) . Why then are small populations more likely to go extinct compared to large populations?

• A) Large populations are more impacted by stochastic events.
• B) Small populations are more impacted by stochastic events.
• C) Small populations are impacted by demographic stochasticity and not environmental stochasticity.
• D) Small populations are impacted by environmental stochasticity and not demographic stochasticity.

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Definitions:

Price-taker Industry

A Price-taker Industry is one in which individual firms have no control over the price of their product and must accept the market price as determined by supply and demand.

Constant Cost Industry

An industry wherein the costs of production do not change as the overall level of output increases or decreases.

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business, including high startup costs, licensing requirements, and access to technology.

Zero Economic Profit

A situation where a firm's total revenue is exactly equal to its total opportunity costs, indicating no excess returns over the cost of capital.