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The correlation between intellectual functioning and genetic similarity is
Voluntary Exchange
A transaction where both parties agree to trade goods or services by choice.
Perfect Competition
A market structure where many firms sell identical products, entry and exit are easy, and no single buyer or seller can affect prices.
Marginal Cost (MC)
The increase in total cost that results from producing 1 more unit of output. Marginal costs reflect changes in variable costs.
Marginal Cost
The financial increment incurred by the production of an extra unit of a product or service.
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