A Nocturnal Animal That Wishes to Send an Information-Rich Message

question 47

Multiple Choice

A nocturnal animal that wishes to send an information-rich message that persists for a long time, doesn't require physical contact, and is not easily intercepted by predators should communicate via a(n) _______ signal.

• A) high volatility chemical
• B) visual
• C) acoustic
• D) low volatility chemical
• E) mechanosensory

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Definitions:

Price Discrimination

A pricing strategy where similar goods or services are sold at different prices to different groups of people.

Ethnic Group

A community or population made up of people who share a common cultural background, ancestry, or social experience.

Potential Competitors

Firms that are not currently in a market but have the capacity to enter if they choose.

Price-Elastic

Price-elastic refers to the responsiveness of the quantity demanded or supplied of a good to a change in its price; high elasticity means quantity changes significantly with price changes.