The reasons why more transitional fossils have not been found include:
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Smaller populations produce fewer fossils. - Generally, species with smaller populations are less likely to leave behind a significant fossil record, as fewer individuals may die in environments conducive to fossilization.
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Fossil formation is rare. - The processes that lead to fossilization are quite specific and infrequent, meaning that the vast majority of organisms that die do not become fossils.
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Evolution is a slow process. - Evolutionary changes can occur over long periods of time, and many transitional forms might not have been preserved or recognized if they existed for only short time frames.
The statement "More transitional fossils do not exist" is not accurate, as it suggests that transitional fossils cannot exist, which is contrary to the ongoing discoveries in paleontology. While the fossil record is incomplete, scientists continue to find more fossils that can be classified as transitional.