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How are new species formed? Discuss macroevolution as a result of evolutionary forces.
Average Fixed Cost
Fixed cost divided by output.
Variable Costs
Expenses that change in proportion to the activity of a business.
Fixed Costs
Expenses that do not change with the level of output or sales in the short term.
Marginal Cost Curve
Graphical representation showing how the cost to produce one more unit changes as production increases, typically U-shaped due to economies and diseconomies of scale.
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