Examlex
Which of the following statements is an example of biological determinism?
Fixed Costs
Business expenses that are not dependent on the level of goods or services produced by the business, such as rent and salaries.
Marginal Costs
The financial implication of manufacturing an extra unit of a product or service.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices within a given period.
Economic Profit
The profit a firm makes after subtracting both its explicit (direct) and implicit (indirect or opportunity) costs from its total revenues.
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