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The worldwide demand for ivory has led to widespread slaughter of African elephants. A ban on ivory led to poaching and a thriving illegal trade in ivory. In response, conservationists employed DNA testing to obtain forensic evidence for elephant slaughter, much as forensics experts do to solve human crimes. What is the most specific information that DNA profiles are likely to provide in crimes related to poaching and illegal trade in animals or animal parts?
Coefficient of Price Elasticity
A measure of the responsiveness of the quantity demanded of a good to a change in its price.
Demand Schedule
A table or graph showing the quantity of a product or service demanded at various prices.
Imperfectly Competitive Firm
A business operating in a market where it has some control over the price of its product because competition is not completely intense.
Marginal Revenue
The additional revenue that a firm receives from selling one more unit of a product.
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