Use the Following Information to Answer the Question

question 20

Multiple Choice

Use the following information to answer the question.

Which of the following trees, if any, depicts the same relationship among species as shown above?

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Definitions:

Utility Function

A mathematical representation that assigns a value to every possible choice to indicate the level of satisfaction or utility that choice provides to a consumer.

Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.

Income

Remuneration obtained regularly through employment or investment activities.

Demand

Demand refers to the quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.