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Use the following information when answering the corresponding questions) .
Brown et al. and Morwood et al. reported, in 2004, that they had found skeletal remains of a previously unknown type of hom now dubbed Homo floresiensis, on the Indonesian island of Flores. These hominins were small approximately 1 m tall) , with small braincases approximately 380 cm3) , as compared with other hominins. The remains of H. floresiensis were found alongside handmade stone tools and the remains of dwarf elephants that also inhabited the island, suggesting that H. floresiensis was able both to make tools and to coordinate the hunting of animals much larger than itself. H. floresiensis is estimated to have lived at the site where the remains were found from at least 38,000 years ago to 18,000 years ago.
-Which would be the most feasible method of figuring out to which other hominin species H. floresiensis was most closely related?
Perfect Competition
A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, making firms price takers.
Average Total Cost
The total cost of production divided by the quantity produced, indicating the average cost of producing each unit of output.
Profit Maximization
The process by which a firm determines the price and output level that returns the greatest profit, considering costs and market demand.
Short-Run Supply Curve
A graphical representation showing the relationship between the market price of a good and the quantity supplied by producers in the short term.
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