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Comparisons of Tooth Wear in Living Apes and Extinct Miocene

question 45

Multiple Choice

Comparisons of tooth wear in living apes and extinct Miocene apes suggest that some extinct species of apes ate


Definitions:

Price Floor

A government-imposed limit on how low a price can be charged for a product or service.

Price Floors

A government- or authority-imposed minimum price that can be charged for a commodity, which is typically set above the equilibrium price to protect producers.

Consumer Surplus

The gap between what consumers are prepared to pay for a product or service, and what they end up spending.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to market price.

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