Biologists Captured and Marked 120 Butterflies, and Later Captured 150

question 47

True/False

Biologists captured and marked 120 butterflies, and later captured 150 of which 30 were marked. The population estimate is 1000 butterflies.

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Definitions:

Opportunity Cost

The cost of an alternative that must be forgone as a result of choosing another option, representing the benefits that could have been received by taking a different path.

Free Lunch

An expression indicating that obtaining goods or services without cost or effort is impossible in economic terms, as there's always a trade-off.

Economic Theory

An organized set of concepts and principles that aims to explain how economies function and to provide a framework for economic policy decisions.

Anomaly

An anomaly refers to something that deviates from what is standard, normal, or expected, often presenting a challenge to conventional understanding.