What is founder effect?

Explanation

**Step-by-Step Solution:**

1. **Definition of Founder Effect**: The founder effect refers to a phenomenon in population genetics where a small group of individuals from a larger population establishes a new colony.

2. **Genetic Variation**: When this small group establishes a new colony, there is a significant reduction in genetic variation compared to the original population. This is because the new colony is derived from only a small subset of the genetic diversity present in the larger population.

3. **Establishment of New Colony**: The new colony that is formed can exhibit different characteristics from the parent population. This difference can be observed both in terms of genotype (the genetic makeup) and phenotype (the observable traits).

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