According to the Scientific Method:​

question 5

Multiple Choice

According to the scientific method:​

• A) ​currently accepted knowledge should be open to question.
• B) ​even the best research studies need to be replicated.
• C) ​observations should be comprehensive and unbiased
• D) ​All of the above

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Definitions:

MC = P

A condition in economic theory where Marginal Cost (MC) equals Price (P), indicating optimal production levels where no additional units should be produced.

Profit

The financial gain obtained when the total revenues generated exceed the total costs incurred by a business.

Marginal Cost

The growth in total expenses incurred from the production of one more unit.

Output

The total amount of goods or services produced by a firm or country.