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An experimenter wanted to test the effects of cigarette smoking on rats. She infused the cages of 50 rats with cigarette smoke and the cages of another 50 rats with pure, clean air. The rats that received the clean air were the ____.
Profit
The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
Production Function
An equation that describes the relation between inputs used in production and the output of goods or services.
Profit
The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Commodity
A basic asset deployed in commercial transactions that is exchangeable with other assets of the same classification.
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