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A spaceship is designed to support animal life for a multiyear voyage to the outer planets of the solar system. Plants will be grown to provide oxygen and to recycle carbon dioxide. Since the spaceship will be too far from the sun for photosynthesis, an artificial light source will be needed. Suppose a plant has a unique photosynthetic pigment and the leaves of this plant appear to be reddish yellow. What wavelengths of visible light are absorbed by this pigment?
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in a balance between production and consumption.
Equilibrium Quantity
The volume of commodities or services provided that coincides with the volume requested at the price of market balance.
Normal Good
A normal good is one whose demand increases when consumers' incomes increase and falls when incomes decrease, all else being equal.
Equilibrium Quantity
The quantity of a good or service at which supply and demand are balanced in a market.
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