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What is a "merchant?" Identify four provisions in Article 2 that apply to merchants, but not to others.
Fixed Costs
Fixed outgoings, including rent, salaries, and insurance, that are unaffected by production or sales volumes.
Net Income
The total earnings or profit of an individual or business after deducting expenses and taxes.
Net Income
The total profit of a company after all expenses and taxes have been subtracted from total revenue.
Variable Costs
Expenses that vary in relation to the amount of product or service produced by a company.
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