Suppose That You Have 900 Km² to Devote to a Core

question 28

Multiple Choice

Suppose that you have 900 km² to devote to a core natural area. All other things being equal, which arrangement would best foster the preservation of biodiversity?
(1) A single area that is 30 km × 30 km
(2) A single area that is 10 km × 90 km
(3) Two areas that are each 10 km × 45 km

• A) Arrangement 1
• B) Arrangement 2
• C) Arrangement 3
• D) Arrangements 1 and 2 are equally good, and both are better than 3.

Evaluate the effects of shifts in supply and demand on producer and consumer surplus.

Recognize the significance of efficiency and equality in resource allocation.

Interpret supply and demand tables and graphs to determine economic outcomes.

Compare and contrast the effects of market changes on producer and consumer behavior.

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Definitions:

Interaction Effect

A statistical phenomenon where the effect of one independent variable on a dependent variable depends on the level of another independent variable.

DfB

Degrees of Freedom Between groups, referring to the number of independent values in the calculation of variance between the different groups under study.

DfWG

Degrees of Freedom Within Groups, a statistical concept used in variance analysis to describe the number of independent pieces of information that went into the estimate of variability.

Critical Value

The threshold value that a test statistic must exceed to reject the null hypothesis in a statistical test.