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Which of the following is not a form of racism, according to Appiah?
Fixed Cost
Expenses that do not change in the short term, regardless of the level of output or sales, such as rent, salaries, and loan payments.
Monopolistically Competitive
A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and price-setting ability.
Short Run
A period during which at least one factor of production is considered fixed, limiting the capacity to adjust production levels.
Continue to Operate
A business decision to keep running the operations despite challenges or low profitability in the short term.
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