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In an experiment, it was found that newborn rats who were genetically predisposed to be skittish, nervous, and high-strung would develop into calm, exploratory, and stress-resistant adult rats when raised by genetically unrelated, attentive mothers. Although the rats' DNA did not change, the chemicals that controlled their gene expression did change, a phenomenon called:
Total-Cost Curve
A graphical representation showing the total cost of producing varying quantities of output.
Economic Profit
The surplus gained from undertaking an activity after accounting for both explicit and implicit costs, differing from accounting profit.
Accounting Profit
The financial gain calculated by subtracting total explicit costs from total revenue, reflecting the company's bookkeeping earnings.
Explicit Costs
Payments made directly to individuals or entities in the operation of a business, including salaries, rental fees, and costs of materials.
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