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The Pax6 gene codes for a transcription factor that initiates differentiation of cells that ultimately form the eye. Suppose that a researcher added an activator for the Pax6 gene to embryonic cells that are in the process of forming legs in Drosophila. What do you think the researcher will observe?
Quantity Demanded
Quantity demanded refers to the amount of a good or service that consumers are willing and able to purchase at a given price.
Consumer Equilibrium
A state in which a consumer has allocated their income in a way that maximizes their utility, given prices and their budget constraint.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to replace more expensive items with less expensive ones.
Income Effect
The change in an individual's or economy's consumption patterns due to a change in real income, which can result from wage changes, inflation, or taxation adjustments.
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