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In the lab, you are comparing several insect species that undergo metamorphosis. In incomplete metamorphosis, the juveniles look like small adults, while in complete metamorphosis, the different larval stages look completely different from the adults. Both types of insect groups are successful and well-adapted to their environments.
-Can you think of a potential advantage of complete metamorphosis?
Market Equilibrium
The condition in which market supply equals market demand, such that prices become stable.
Increased Demand
Describes a situation where a larger number of consumers are willing and able to purchase a good or service at a given price, often leading to higher prices or a market shortage if supply does not increase correspondingly.
Price Ceiling
A legally established maximum price that can be charged for a good or service, preventing prices from reaching equilibrium levels.
Surplus
A situation where the quantity of a product supplied exceeds the quantity demanded, often resulting in a decrease in prices.
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