Examlex
In Fred Griffith's experiments, harmless R strain pneumococcus became lethal S strain pneumococcus as the result of which of the following?
1) horizontal gene transfer
2) transduction
3) conjugation
4) transformation
5) genetic recombination
Average Variable Costs
Average variable costs represent the per-unit variable costs of production, calculated by dividing total variable costs by the quantity of output.
Average Fixed Costs
Average fixed costs refer to the fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced, which decreases as output increases.
Total Cost
The entire production cost, comprising both unchanging and variable expenditures.
Diminishing Marginal Product
A principle stating that as additional units of a variable input are added to a fixed input, the additional output produced by each new unit will eventually decline.
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