In Science,a Scientific Theory Is Defined as A(n)

question 79

Multiple Choice

In science,a scientific theory is defined as a(n)

• A)personal understanding of natural laws.
• B)testable prediction about the natural world.
• C)explanatory device for scientific findings.
• D)educated opinion about the natural world.

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Definitions:

Economic Profit

Economic profit is the difference between total revenue and total costs, including both explicit and implicit costs.

Total Fixed Costs

The sum of all costs that remain constant regardless of the level of production or output in the short term.

Total Variable Costs

The total of all costs that vary with the level of output, including costs such as materials and labor that change with the scale of production.

Profit-Maximizing Level

The output level at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.