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To take advantage of ecotourism, a resort is built near a coral reef so that tourists can observe the spawning that occurs during the dark of the moon. Several species of colorful fish are also attracted by lights in the dark. Tour boats go out nightly and shine large spot lights to attract the fish. However, the coral have not spawned for three months now. What is the probable cause?
Costing Approach
A method or strategy used to evaluate the expenses involved in producing a product or service, impacting pricing and budgeting decisions.
Direct Costs
Expenses that can be directly attributed to the production of specific goods or services, such as materials and labor.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
Utility
The total satisfaction or value derived from consuming goods or services, often considered in economic decisions and analyses.
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