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Theodor W. Engelmann illuminated a filament of algae with light that passed through a prism, thus exposing different segments of algae to different wavelengths of light. He added aerobic bacteria and then noted in which areas the bacteria congregated. He noted that the largest groups were found in the areas illuminated by the red and blue light.
-An outcome of this experiment was to help determine
Substitutes
Alternative goods or services that can satisfy the same needs as another, often leading to a choice between the two based on price, convenience, or preference.
Perfectly Competitive
A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect knowledge, where no single firm can influence the market price.
Profit-Maximizing
The method through which a company identifies the pricing and production quantity that maximizes its profits.
Economic Standpoint
A perspective or analysis based on economic principles, often considering factors like scarcity, supply and demand, and cost-benefit analysis.
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