Examlex
Suppose a population of garter snakes that was initially naive to newts with TTX was placed with such newts.Assuming that the population persisted, over the course of many generations, we would expect the snakes to _______ in TTX resistance and _______ in speed.
Incumbent Monopoly
A situation where a single company dominates a market or industry, often due to having established a strong presence over time.
Excess Capacity
The situation in which a firm produces less than its potential output, often indicated by idle resources or facilities.
Potential Entrant
Refers to a business or company that is not currently in a market but has the capability and interest to enter the market if certain conditions are met.
Dominant Strategy
A strategy in game theory that yields the best outcome for a player regardless of what strategies other players choose.
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