Which Set of Animals Are the "Big Five" on the List

question 36

Multiple Choice

Which set of animals are the "big five" on the list for trophy hunters?

• A)African lion, African elephant, Cape buffalo, panther, and zebra
• B)African lion, African elephant, Cape buffalo, leopard, and panther
• C)African lion, African elephant, Cape buffalo, leopard, and hippopotamus
• D)African lion, African elephant, Cape buffalo, leopard, and black rhino

---

Definitions:

Long-Run Equilibrium

A state in which all firms in a perfectly competitive market earn zero economic profits, indicating no incentive for entry or exit.

Monopolistically Competitive

Describes a market structure where many firms offer products that are similar but not perfect substitutes, leading to competition based on product differentiation.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand, achieving a market balance.

Industry Entry

The process by which new competitors join an existing market, often leading to increased competition.