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If average total cost is falling, marginal cost must also be falling.
Natural Selection
A fundamental mechanism of evolution where organisms better adapted to their environment are more likely to survive and reproduce.
Evolutionary Theory
A scientific theory that explains the diversity of life on Earth by proposing that life evolves over time through processes of natural selection and genetic variation.
Common Ancestor
The most recent individual from which all organisms in a group are directly descended.
Directional Selection
A form of natural selection where one extreme phenotype is favored over others, causing the allele frequency to shift in one direction.
Q51: Refer to Figure 12-9.At price P<sub>2</sub>,the firm
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