An important characteristic in the mechanism of the reaction is the formation of a tetrahedral intermediate which is the result of the alcohol present attacking the 2-phenylacetic acid together with the subsequent loss of a proton. This reaction is called the fischer esterification. It is a special type of an esterification reaction by which a carboxylic acid and alcohol are refluxed and reacted forming an ester in the presence of a catalyst which is an acid. Along with the formation of ester, a water molecules would be eliminated during the course of the reaction. This reaction is said to be reversible.
In this question, the above choice is right, because the exponentially growing plot of even an individual is increasing steadily (to time mostly on the x-axis as well as the number of organisms mostly on the y-axis).
