Species Diversity Refers to the Number and Variety of Habitats

question 10

True/False

Species diversity refers to the number and variety of habitats for organisms within a geographic area.

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Definitions:

Long-Run Equilibrium

A state where all factors of production in an economy are fully adjusted to market conditions, leading to stable prices and full employment of resources.

Profit Maximization

The method a company uses to decide the price and production amount that yields the highest profit.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing the excess earnings over the next best alternative.

Monopolistic Competition

A trading structure inhabited by many corporations pushing products that are analogous but not carbon copies, which affords them a degree of control over the market.