Examlex
To understand chimpanzee behavior in general,a scientist observes the hierarchy or dominance behavior of a family of male chimpanzees in a naturalistic setting.In this example,the scientist observes the behavior of a population of chimpanzees.
Short Run
A period in which at least one input in the production process is fixed, limiting the ability of a firm to adjust to changes in market demand.
Long Run
An economic term referring to a period during which all factors of production and costs are variable, allowing for full adjustment to changes.
Fixed Cost
Costs that do not change with the level of output or sales, such as rent or salaries.
Variable Cost
Expenses that change in proportion to the amount of goods or services produced, like labor and materials.
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