Individuals with Variations That Make Them Best Suited to Their

question 3

Multiple Choice

Individuals with variations that make them best suited to their environment are,on average,more likely to ________.

• A) evolve
• B) change over time
• C) survive and reproduce
• D) be larger

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Definitions:

Production Costs

The total expenses incurred in the process of producing or manufacturing goods and services, including materials, labor, and overhead.

Opportunity Costs

Opportunity costs represent the benefits a person or business misses out on when choosing one alternative over another.

Implicit Costs

The opportunity costs of using resources that a firm already owns, representing the income the firm foregoes by using those resources internally rather than renting or selling them.

Explicit Costs

Explicit costs are direct, out-of-pocket payments for resources or services needed for production, such as wages, rent, and materials; they're easily quantifiable and recorded.