Fluctuations in Populations That Produce a Very Large Population Followed

question 53

Multiple Choice

Fluctuations in populations that produce a very large population followed by a crash that lowers the population size drastically and is then repeated are called _____________.

• A)exponential growth
• B)log growth
• C)boom-and-bust cycles
• D)extirpation cycles
• E)carrying capacity

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Definitions:

External Cost

Costs of a transaction that affect people who are not part of the transaction.

Private Value

The estimate of worth that an individual or company assigns to an asset, good, or service, reflecting personal assessments rather than market-driven prices.

Social Cost

The total cost to society, including both private and external costs, of producing a good or service.

Private Cost

The costs directly incurred by individuals or companies involved in conducting an economic activity, excluding any external effects on others.