The Accompanying Table Gives Cost Data for a Firm That

question 251

Multiple Choice

The accompanying table gives cost data for a firm that is selling in a purely competitive market. If there were 1,000 identical firms in this industry and total, or market, demand is as shown in the second table, equilibrium price will be

• A)$32.
• B)$42.
• C)$36.
• D)$20.

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Definitions:

Heritability Ratios

A statistical estimate that indicates how much of a trait's variation within a population can be attributed to genetic differences among individuals.

Phenotypic Variability

The variation in physical and physiological traits among individuals within a population, due to genetic and environmental influences.

Genome

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

Polygamy

Any mating system in which a member of one sex mates with several members of the opposite sex.