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This chapter describes the case of giraffes' long necks to illustrate how natural selection works on variety within a population. This explanation contrasts with the incorrect alternative of the inheritance of acquired characteristics, which suggests that
Marginal Product
The extra production resulting from the increase of a particular input by one unit, while keeping all other inputs unchanged.
Price of Labor
The compensation or wage paid to employees for their work or labor, often determined by market forces or negotiations.
Price of Capital
The cost of borrowing money or the rental cost of physical capital, which influences investment decisions in business and economic analysis.
ATMs
Automated Teller Machines, which are electronic banking outlets that allow customers to complete basic transactions without the aid of a branch representative or teller.
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