Gina and Tina Are Identical Twins Who Were Separated at Birth

question 635

Multiple Choice

Gina and Tina are identical twins who were separated at birth and grew up in different families.Which of the following aspects of their lives is more likely to be due to genetic similarities?

• A) Both sing alto and are accomplished musicians.
• B) Both married men who were named Tim.
• C) Both drive red Mustang convertibles.
• D) Both use the same shampoo and toothpaste.

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Definitions:

Competition

The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion.

Business-stealing Externality

A situation where a new entrant in a market captures a portion of the incumbent firms' customers, causing economic losses to existing businesses.

Product-variety Externality

An economic effect where the variety of products available in the market impacts the welfare of consumers, often positively.

Efficient Scale

The level of production at which average total costs are minimized, indicating the most cost-effective scale of operation.