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A bacterium that you isolated from pond water appears to use light for energy. Based upon this information, you inoculate the organism into fresh media, infused with lots of carbon dioxide. Even after incubation at the correct temperature (of pond water) , the organism is not growing. Your best
Explanation of what might have happened is _______.
Utility Function
A mathematical representation of how a consumer derives satisfaction or utility from consuming goods and services.
Substitution Effect
The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with cheaper substitutes, holding utility constant.
Income
The amount of money received by an individual or household over a certain period, usually from employment or investments.
Price
The monetary figure anticipated, requisite, or paid as payment for a product.
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