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Adaptation to sensory stimuli is a feature of many sensory systems, and is evident in the way that the eyes adapt to dark rooms or how the ears adapt to loud sounds. Why is it beneficial for an organism to be able to adapt to extremes of stimuli intensity?
Corporation
A legal entity that is separate and distinct from its owners, who are shareholders, and is authorized to act as a single entity, legally endowed with rights and responsibilities.
Accounting Profit
The total revenue of a firm minus the explicit costs directly tied to those revenues.
Economic Profit
The difference between total revenues and total costs, including both explicit and implicit costs.
Implicit Costs
Also known as imputed or opportunity costs, they refer to the value of resources used in production that are not directly paid for or accounted for as expenses.
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