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Lykken and Tellegen conducted a study of twins that showed that even though monozygotic (identical) twins tend to make similar choices in many aspects of their lives, this is not true when it comes to mate selection. The spouses of monozygotic twins are no more similar to each other than are the spouses of dizygotic (fraternal) twins. What important idea can we infer from this study?
Elasticity Of Supply
A measure of how much the quantity supplied of a good responds to a change in the price of that good.
Inputs
Resources used in the production process, including labor, capital, materials, and energy.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price over a specified period.
Total Revenue
The overall income generated by a business from its sale of goods or services, calculated as the price per unit times the number of units sold.
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