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Why Is It That It Is Often Possible to Reliably

question 15

Multiple Choice

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) ?


Definitions:

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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