In the Tree Below, Assume That the Ancestor Was an Herb

question 9

Multiple Choice

In the tree below, assume that the ancestor was an herb (not a tree) without leaves or seeds. Which currently existing species has/have this same combination of traits?

• A) fern
• B) Psilotum
• C) clubmoss
• D) a and c
• E) b and c

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Definitions:

Marginal Cost

The additional expense incurred from manufacturing an extra unit of a product or service.

Wage Rate

The amount of compensation an employee receives per unit of time or per task performed, often expressed per hour or piece.

Monopsonist

A market situation in which there is only one buyer for a product or service.

Labor Supply Curves

Graphical representations that illustrate the relationship between the wage rate and the quantity of labor that workers are willing to supply.