Refer to the first graph above, which shows temperature and precipitation in a temperate desert, and observe that the months of March and April are not the warmest, coldest or wettest months in this biome. However, the bloom of desert wildflowers will typically occur in these two months. Think about possible reasons for this pattern and explain why it occurs.
Definitions:
MRP Curve
The Marginal Revenue Product curve, which depicts the additional revenue generated by employing an additional unit of a resource or factor of production.
Demand
A schedule or curve that shows the various amounts of a product that consumers are willing and able to purchase at each of a series of possible prices during a specified period of time.
Price
The amount of money expected, required, or given in payment for something.
Marginal Revenue Product
The additional revenue generated by employing one more unit of a factor, such as labor or capital.
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