Examlex
Dominant alleles determine a phenotype when an individual is ____ for that particular gene.
Perfect Competitor
A theoretical firm in a perfectly competitive market that cannot influence the market price of its product and can only decide the amount of output produced.
Perfectly Elastic
A situation in demand or supply where quantity changes infinitely in response to any change in price.
Economic Profits
The difference between total revenue and total costs, including both explicit and implicit costs.
Accounting Profits
The total revenue of a business minus the explicit costs and depreciation expenses; it's a measure of a company's financial performance according to standard accounting principles.
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