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Salmon eggs hatch in fresh water. The fish then migrate to the ocean (a hypertonic solution) and, after several years of feeding and growing, return to fresh water to breed. How can these organisms make the transition from fresh water to ocean water and back to fresh water?
Income Effect
Income Effect describes how a change in an individual's income affects their purchasing behavior, impacting the quantity of goods and services they can afford.
Price Change
A variation in the cost of a good or service over time in a market.
Nominal Income
Income figures that have not been adjusted for inflation, representing the amount of money earned in current dollars.
Quantity Demanded
The combined measure of a good or service that purchasers are eager and able to acquire at a predetermined price.
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