Can Your House Cat Survive on the Annual Productivity of a Typical

question 39

Multiple Choice

Can your house cat survive on the annual productivity of a typical city backyard,or must it be given food supplements?

• A) It can survive.
• B) It must be fed additional food or it will starve.
• C) More information is needed to answer this question.
• D) It depends on what type of plants you grow in the yard.
• E) A city backyard is not enough living space for your cat.

---

Definitions:

Long-Run Equilibrium

A state in a market where all adjustments have been made and all inputs, including physical capital and labor, can be varied to reach an optimal output level.

Short-Run Equilibrium

The state in which the quantity supplied equals the quantity demanded within a short time frame, often with some factors held constant.

Economic Loss

The monetary value of the decrease in welfare or trade-offs resulting from an economic transaction or decision, beyond just the physical loss.

Product Differentiation

The strategy of setting a product or service apart from others in the industry to enhance its attractiveness to a specific target group.