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Marc Slattery conducted several experiments using both natural and simulated coral reefs.When reef species (sponges) were subjected to higher temperatures and lower pH,most likely the conditions that will exist in the future ocean environment,Slattery found that the reef species had slower growth rates and reduced reproduction.What was the cause of these results?
Accounting Costs
The actual expenses and cash outflows that a business incurs, captured in its financial records.
Implicit Costs
The opportunity costs of using resources owned by the firm for its current purposes rather than the next best alternative uses.
Accounting Profits
Accounting profits refer to the net earnings of a company as calculated by subtracting total expenses from total revenues, using standard accounting principles.
Economic Profits
The difference between total revenues and total costs, including both explicit and implicit costs, indicating the profitability of a company beyond basic accounting measures.
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