The Elasticity of Supply for a Given Commodity Is Calculated

question 2

Short Answer

The elasticity of supply for a given commodity is calculated as

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Definitions:

Gallflies

Insects known for forming galls, or abnormal growths, on plants, especially notable in the gall wasp family (Cynipidae).

Directional Selection

A type of natural selection in which one extreme phenotype is favored over others, causing the allele frequency to shift over time in that direction.

Quantitative Trait Locus (QTL)

Quantitative trait locus (QTL) is a stretch of DNA that is correlated with variation in a phenotypic trait. These regions contain genes, or are linked to genes, that contribute to population differences in a phenotype.

Phenotypic Trait

An observable and measurable characteristic of an organism, which can result from its genetic makeup and environmental influences.