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In this eight-year experiment, 12 populations of E. coli, each begun from a single cell, were grown in low-glucose conditions for 20,000 generations. Each culture was introduced to fresh growth medium every 24 hours. Occasionally, samples were removed from the populations, and their fitness in low-glucose conditions was tested against that of members sampled from the ancestral (common ancestor) E. coli population.
-Imagine that after generation 20,000, the experimental cells were grown in high-glucose conditions for 20,000 generations (using the same transfer process described) . Refer to the y-axis on the graph and predict the fitness of the new lines when tested in low- and high-glucose conditions.
Long Run
A period sufficient for all inputs, including physical capital and labor, to be adjusted in the production process.
Industry Supply Curve
A graphical representation that shows the relationship between the price of a good and the total output of the industry over a period of time.
Marginal Cost Curves
Graphs that depict the cost of producing one additional unit of a good or service, typically showing how costs vary with production volume.
Short-run
A time frame in which at least one factor of production is fixed, limiting adjustments to production levels.
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