Figure 20.2 -Using the Phylogeny Drawn in Figure 20.2,taken Together,the Lesser Apes

question 64

Multiple Choice

Figure 20.2
-Using the phylogeny drawn in Figure 20.2,taken together,the lesser apes (gibbons and siamangs) and great apes (chimpanzees,gorillas,and orangutans) shared a common ancestor most recently with other members of their

• A)order,about 17 million years ago.
• B)genus,about 6 million years ago.
• C)family,about 13 million years ago.
• D)subfamily,about 7 million years ago.

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Definitions:

Inelastic Region

The inelastic region on a demand curve represents a range where a change in price has little to no effect on the quantity demanded of a good or service.

Demand Curve

A graphical representation showing how the quantity demanded of a good or service varies with its price, ceteris paribus.

Consumer Surplus

The differentiation in the total expenditure consumers are willing and have the economic means to allocate for a good or service, versus what they effectively allocate.

Perfect Competition

A market structure characterized by a complete absence of rivalry among firms, where no single firm can influence the market price or product quality, leading to optimal allocation of resources.