All of the Following Are True of All Living Organisms

question 41

Multiple Choice

All of the following are true of all living organisms EXCEPT that they:

• A)are made of cells.
• B)can grow.
• C)can reproduce themselves.
• D)respond to stimuli.
• E)possess either DNA or RNA.

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Definitions:

Economic Profit

The total revenue of a business minus its explicit and implicit costs; a measure of profitability that includes opportunity costs.

Perfectly Competitive Firm

A company that operates in a perfectly competitive market, cannot influence the market price, and produces at an optimal output level.

Profit-maximizing

Profit-maximizing refers to a strategic approach by businesses to adjust their production and pricing to achieve the highest possible profit.

Perfectly Competitive Firm

A hypothetical business in a market where no single company can influence the market price or product quality, leading to an efficient allocation of resources.