Goldfish Are Very Hardy Fish, Which Is Why They Have

question 9

Multiple Choice

Goldfish are very hardy fish, which is why they have been in the pet trade for so long. They are generalist feeders and can tolerate a wide range of oxygen concentrations as well as high levels of nitrogen (due to waste buildup in a small fish bowl) . Based on this, goldfish ____________________.

• A) have a large microhabitat
• B) have a broad ecological niche
• C) face almost no constraints or tradeoffs
• D) live in macrohabitats

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Definitions:

Total Revenue Test

A method used to assess the elasticity of demand by observing changes in total revenue following a price change.

Quantity Supplied

The actual amount of a good or service producers are willing to sell at some specific price.

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, holding other factors constant.

Price-elastic

Refers to the responsiveness of the demand for a good to a change in its price; highly price-elastic goods see significant changes in demand when prices fluctuate.