Homology Is Evidence of ________

question 11

Multiple Choice

Homology is evidence of ________.

• A)convergent evolution
• B)polyploidy
• C)common ancestry
• D)paedomorphosis

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Definitions:

Economic Profit

The total revenue of a business minus its explicit and implicit costs, showing the actual financial gain.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on.

Perfectly Competitive

A market structure characterized by many buyers and sellers, all of whom are price takers with the product being homogeneous.

Sunk Costs

Expenses that have already been incurred and cannot be recovered, which should not influence future business decisions.