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After several weeks of feeling apathetic and dissatisfied with his life, Mark has suddenly become extremely cheerful and so talkative he can't be interrupted. He seems to need less sleep and becomes irritated when his friends tell him to slow down. Mark's behavior is indicative of
Firm
A business organization that sells goods or services in order to make a profit.
Producer Surplus
The difference between what producers are willing to receive for a good or service and the actual amount they receive, due to the market price being higher.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.
Unavoidable Costs
Expenses that a company must pay regardless of its level of production or sales activity, also known as fixed costs.
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