Those Characteristics That Can Be Determined on Superficial Inspection of an Individual

question 9

Multiple Choice

Those characteristics that can be determined on superficial inspection of an individual are known as ________.

• A) polyspermic
• B) polygenic
• C) genotypic
• D) phenotypic

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Definitions:

Nondiscriminating Monopolist

A monopolist that charges the same price to all customers, as opposed to engaging in price discrimination where different prices are charged to different customers.

Natural Monopoly

A market condition where due to high fixed or startup costs, a single firm can supply a good or service to an entire market at a lower cost than multiple companies.

Network Effects

Increases in the value of a product to each user, including existing users, as the total number of users rises.

Price Discrimination

The strategy of selling the same product to different customers at different prices based on willingness to pay, rather than differences in production costs.