Snakes Evolved About ____ Million Years Ago, and Their Closest

question 35

Multiple Choice

Snakes evolved about ____ million years ago, and their closest living relatives include ____.

• A) 60; iguanas and monitor lizards
• B) 0.1; iguanas and whiptail lizards
• C) 150; iguanas and monitor lizards
• D) 300; iguanas and crocodiles

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Definitions:

MC < MR

A condition where marginal cost is less than marginal revenue, suggesting that increasing production can lead to higher profits.

Monopolistic Competition

A commercial structure with several businesses marketing similar yet distinct products, which gives them a bit of power within the market.

Negative Economic Profits

Occurs when a firm's total costs exceed its total revenues, resulting in a loss.

Optimal Level

In economics, the optimal level refers to the most efficient, effective, or desirable point of operation or outcome in terms of maximizing benefits or minimizing costs.