A Stochastic Effect Is When a Biological Response Is Based

question 34

True/False

A stochastic effect is when a biological response is based on the probability of occurrence rather than the severity of the change..

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output produced.

Market Price

The current price at which a good or service can be bought or sold in a given market.

Market Price

The current price at which a good or service can be bought or sold in a given market, determined by supply and demand forces.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity produced, representing the cost per unit of output.