Figure 2.2 -An Equilibrium in a Market Results When the Market

question 68

Multiple Choice

Figure 2.2

-An equilibrium in a market results when the market

• A) produces a surplus.
• B) produces an output at which the price consumers are willing to pay exactly equals the price producers are willing to accept.
• C) produces an output at which the demand curve lies above the supply curve.
• D) results in a product that can be purchased at many different prices.
• E) produces an output at which the supply curve lies above the demand curve.

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Definitions:

Natural Selection

A process by which organisms better adapted to their environment tend to survive and produce more offspring, driving the evolution of species.

Hardy-Weinberg Equilibrium

A principle stating that the genetic variation in a population will remain constant from one generation to the next in the absence of disturbing factors.

Allele Frequencies

The relative frequency of alleles (variations of a gene) within a population.

Dominant Gene

A dominant gene is an allele that expresses its phenotype even in the presence of another allele, effectively masking the effects of a recessive allele.