Which of the Following Best Describes the Idea of Excess

question 268

Multiple Choice

Which of the following best describes the idea of excess capacity in monopolistic competition?

• A)Firms produce more output than is socially desirable.
• B)The output produced by a typical firm is less than what would occur at the minimum point on its ATC curve.
• C)Due to product differentiation, firms choose output levels where price equals average total cost.
• D)Firms keep some surplus output on hand in case there is a shift in the demand for their product.

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Definitions:

Gene Flow

Gene flow is the transfer of genetic variation from one population to another, which can increase genetic diversity in the receiving population.

Divergence

The evolution of different forms or species from a common ancestor, involving the accumulation of genetic differences that can lead to the formation of new species.

Reproductive Isolation

A set of conditions, mechanisms, or behaviors that prevent members of different species or populations from mating and producing fertile offspring.

Reinforcement

A process in speciation where natural selection increases the divergence between two populations of species, leading to the development of reproductive barriers.