The Classic Example of the Effects of the Environment on a Species

question 70

Multiple Choice

The classic example of the effects of the environment on a species is shown by the _________on a fox.

• A) color of fur
• B) color of eyes
• C) size of snout
• D) length of tail
• E) size of ears

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Definitions:

Market Price

The prevailing market price for buying or selling an asset or service currently.

Marginal Decision Rule

A principle in economics used to determine the optimal level of an activity; actions should be taken up to the point where marginal benefits equal marginal costs.

Marginal Revenue

Increment in income from the sale of one more product or service unit.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, often indicating the degree of profitability.