Examlex
Red coloration in wheat seeds is a complex trait influenced by three unlinked genes, each with two different alleles A and a; B and b; C and c. This Punnett square shows the results of a mating between two plants that are both heterozygous at all three loci. The recessive alleles do not contribute to the red coloration of the seed casing.
MC
An abbreviation commonly used for "Marginal Cost," which refers to the additional cost incurred by producing one more unit of a good or service.
Liability Rule
A legal principle that allocates the economic burden of damages to the party responsible for causing harm.
Coase Theorem
A principle stating that if trade in an externality is possible and there are no transaction costs, parties will negotiate to produce an efficient outcome.
Free-Rider Problem
A situation in which individuals benefit from resources or services without paying for them, leading to underprovision of those goods.
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