Total Costs _____________________

question 288

Multiple Choice

Total costs _____________________.

• A) Change as a function of the quantity of output produced.
• B) (For a given time period) are constant no matter the quantity of output produced.
• C) Change as a function of the next unit of output produced.
• D) Comprise the sum total of all production expenses of the firm for some time period.
• E) comprise the sum total of all production expenses of the firm for some time period, expressed relative to the total output produced for that same time period.

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Definitions:

Dominant Gene

A gene that expresses its phenotype over another gene's phenotype when the two are paired together in an organism.

Recessive

Describes a genetic trait that is expressed in an organism’s phenotype only when two copies of the gene are present, one from each parent.

Recessive Genes

Genetic traits that require two copies (one from each parent) to be expressed in the offspring. If only one copy is present, the trait will not manifest because it is masked by a dominant gene.

Dominant Genes

These are genes that are expressed over other genes, called recessive genes, in determining certain traits in an organism.