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Most bats emit high-frequency and high-intensity sounds, and by their returning echoes, create an image about their surroundings. Under selective pressure from this prey-location system, certain moths (which are bats' prey) have evolved simple ears that are particularly sensitive to frequencies used by bats. When they hear the bats, they drop to the ground. The bats, in turn, have switched their sound frequency away from the moth's sensitivity range. What do we call this type of adaptation in both bats and moths?
Visitor Desires
The interests and preferences of individuals visiting a particular place or event, which can significantly influence their behaviors and choices.
Monopolist
A market participant who has exclusive control over the supply of a particular good or service, allowing them to set prices without competition.
Market Efficiency
A condition in which all available information is fully reflected in prices and assets are priced appropriately.
Ideal Market
A theoretical marketplace where information is freely available to all participants, products are homogeneous, and there are no transaction costs, leading to perfect competition.
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