According to Lamarck, All Organisms Have Two Attributes: the Ability

question 7

True/False

According to Lamarck, all organisms have two attributes: the ability to physically adapt to their environments, and the capacity to activate this ability when necessary.

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Definitions:

Total Cost

The sum of fixed costs and variable costs incurred by a business in producing a particular level of output.

Industry Equilibrium Price

The price at which the total quantity demanded by consumers equals the total quantity supplied by firms in an industry.

Perfectly Elastic

A situation in demand or supply where quantity demanded or supplied changes infinitely with any change in price.

Marginal Revenue

The additional income received from selling one more unit of a good or service. It is an important concept in microeconomics and business when determining the optimal level of sales and production.