Some Scientific Observers Connect the Ability to Absorb Lactose Successfully

question 2

Multiple Choice

Some scientific observers connect the ability to absorb lactose successfully to what cultural practices?

• A) a history of keeping dairy herds
• B) a history of consuming honey
• C) a history of consuming refined sugar
• D) a history of nursing infants longer than two years

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Definitions:

Price Makers

Firms that possess the power to set the price of a good or service because of a lack of competition or the unique nature of the product.

Purely Competitive

A market structure characterized by a large number of small firms, free entry and exit, homogeneity of products, and perfect information that leads to the price being dictated by the market.

Monopolistic Firms

Firms operating in a market structure with many competitors that sell differentiated products.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the goods' sensitivity to price changes.