Examlex
You are studying a new virus with a DNA genome of 12 Kb. It can synthesize DNA at a rate of 400 nucleotides per second. If the virus uses theta replication, how long will it take to replicate its genome?
Total Costs
The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
Constant Cost Industry
An industry in which the costs of production do not change as the industry's output changes.
Natural Monopoly
A market situation in which the average costs of production continually decline with increased output. In a natural monopoly, the average costs of production will be lowest when a single, large firm produces the entire output demanded by the marketplace.
Perfectly Elastic
Perfectly elastic refers to a situation in economic theory where the quantity demanded or supplied of a good changes infinitely in response to any change in price.
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