Table 7-3 For Each of Three Potential Buyers of Oranges, the Table

question 125

Multiple Choice

Table 7-3
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Alex, Barb, and Carlos are the only three buyers of oranges, and only three oranges can be supplied per day.

-Refer to Table 7-3.If the market price of an orange is $0.40,

• A)6 oranges are demanded per day and total consumer surplus amounts to $4.45.
• B)6 oranges are demanded per day and total consumer surplus amounts to $5.10.
• C)7 oranges are demanded per day and total consumer surplus amounts to $5.35.
• D)7 oranges are demanded per day and total consumer surplus amounts to $5.50.

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Definitions:

Evolutionary Development

The study of how evolutionary processes guide the development of organisms.

Hox Genes

Hox genes are a group of related genes that control the body plan of an embryo along the head-tail axis by specifying regions of development in early embryonic segments.

Animal Evolution

The gradual development of diverse species of animals over geological time from common ancestors through changes in traits and genetics.

Blastopore

The initial opening that develops during early embryonic development in animals, leading to the formation of the digestive tract.