The Concept of Compensating Variation Means

question 14

Multiple Choice

The concept of compensating variation means:

• A)the change in income necessary to hold the consumer at the final level of utility as price changes.
• B)the change in income necessary to restore the consumer to the initial level of utility as price changes.
• C)the income effect.
• D)the substitution effect.

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Definitions:

Homologous Pairs

Pairs of chromosomes, one inherited from each parent, that contain the same genes at the same loci but may have different alleles.

Karyotypes

The complete set of chromosomes in an individual organism's cell, used for studying chromosome anomalies.

Genomes

The complete set of genes or genetic material present in a cell or organism.

Allelic Variant

A version of a gene at the same locus (position) on a chromosome that differs in sequence or expression from other versions.