Humans Did Not Actually Live on Beringia; It Was Used

question 44

True/False

Humans did not actually live on Beringia; it was used only as a means of travel between Siberia and Alaska.

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Definitions:

Average Variable Cost

The sum of all costs that fluctuate with production volume, divided by the total amount of goods produced.

Long Run

A period in which all factors of production and costs are variable, allowing for full adjustment to changes.

Variable Factors

Inputs to production that can be adjusted in the short term, such as labor and raw materials.

Fixed Costs

Expenses that do not change with the level of output, such as rent or salaries.