For Each Statement, Select the Best Choice That Represents the Description

question 19

Short Answer

For each statement, select the best choice that represents the description given.
-​a quantifiable, heritable characteristic
A)character
B)clade
C)cladistics
D)microevolution
E)dimorphism
F)phylogeny
G)balanced polymorphism
H)cladogram
I)fixed allele

• A)character
• B)clade
• C)cladistics
• D)microevolution
• E)dimorphism
• F)phylogeny
• G)balanced polymorphism
• H)cladogram
• I)fixed allele

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain that exceeds opportunity costs.

Perfect Competitor

A firm in a perfectly competitive market, having no control over market price and where goods offered are perfect substitutes.

Differentiated Product

A product that has been designed or marketed to stand out from similar products offered by competitors.

Elastic

Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.