Summarize How the Dramatic Increase in Intelligence and Use of Material

question 60

Essay

Summarize how the dramatic increase in intelligence and use of material culture in Homo accelerated with the appearance of Homo sapiens about 350,000 yBP.

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Definitions:

Marginal Revenue Curve

A graphical representation that shows the change in total revenue for every unit increase in the quantity of output sold.

Demand Curve

A graphical representation showing the relation between the price of a good and the quantity demanded by consumers.

Profit Maximizing

is a strategy where a firm decides on the quantity of production and price to maximize its profit.

Elasticity Of Demand

A gauge of the extent to which demand for an item is affected by fluctuations in its price.