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What occurs when a website can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person?
Total Fixed Costs
Expenses that do not change with the level of output or production in the short term, such as rent, salaries, and insurance.
Total Fixed Cost
The sum of all costs that remain constant regardless of the level of production or output within a given period.
Marginal Product of Labor
The additional output a firm gains by employing one more unit of labor, holding other inputs constant.
Variable Input
An input whose quantity can be changed in the short run to increase or decrease production.
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