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Why is it that it is often possible to reliably discriminate between elite athletes and less skilled athletes,but it is difficult to reliably discriminate between athletes of differing skill level generally (e.g. ,starters versus nonstarters) ?
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent or salaries.
Variable Cost
Costs that change in proportion to the good or service that a business produces.
Profit
The financial gain obtained when the revenue from selling goods or services exceeds the total cost of producing them.
Fixed Costs
Costs that remain constant regardless of a business's operational levels, including rent, salaries, and loan repayments.
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