In Chapter 3, You Learned About the Evolution of the 14

question 30

Multiple Choice

In Chapter 3, you learned about the evolution of the 14 finch-like species on the Galapagos Islands. As shown in the figure below, each species has a different beak shape; thus, each species is adapted to feeding on different food sources.

Which of the following statements is true about the Galapagos finches?

• A) Because of the different beak shapes, there is little niche overlap.
• B) Interspecific competition has eliminated niche overlap.
• C) Because of niche overlap, a dominance hierarchy has been established.
• D) Intraspecific competition is likely minimal because of the differences in beak shape.

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Definitions:

Deadweight Loss

A reduction in economic productivity occurring when there is no achievement of equilibrium for a good or service.

Marginal Revenue

The enhanced income derived from peddling an additional unit of a product or service.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a good or service, a critical factor in economic decision-making.

Predatory Pricing

Practice of pricing to drive current competitors out of business and to discourage new entrants in a market so that a firm can enjoy higher future profits.