Explain the Statement "The Lower Down in the Food Chain

question 29

Essay

Explain the statement "the lower down in the food chain we eat,the greater percentage of solar energy we put to use,and the more people Earth can support" in terms of trophic levels and pyramids of energy.

---

Definitions:

Marginal Cost

The charges incurred for the production of an additional unit of a good or service.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved due to market inefficiencies.

Consumer Surplus

The difference in planned versus actual spending by consumers on a good or service.

Price Discrimination

A pricing strategy where a firm charges different prices for the same product or service to different consumers, based on their ability to pay, in order to maximize profits.