Match the Correct Terms with the Sentences Below

question 16

Multiple Choice

Match the correct terms with the sentences below.
-________your hypothesis,predictions,or test according to the results.

• A)tests
• B)communicate
• C)accept,reject,or modify
• D)observe
• E)analyze
• F)hypothesis
• G)predictions

---

Definitions:

Fixed Costs

Costs that do not vary with the level of output or sales, such as rent, salaries, or insurance premiums.

Profit-Minimizing

A situation in which a business aims to reduce its profits to minimize taxes or for strategic reasons, contrary to typical profit-maximizing objectives.

Economic Profits

Economic Profits are the profit made by a company after deducting both explicit and implicit costs, representing the true profitability of the company.

Long Run

a period in which all factors of production and costs are variable, allowing firms to adjust all inputs.