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The Stanford Prison Experiment clearly demonstrated that conformity to social roles and implied social norms can make people behave in ways that are contrary to their usual behavior.
Average Revenue
The mean amount of money earned per unit sold, calculated by dividing the total revenue by the quantity of units sold.
Marginal Revenue
The additional income gained from selling one more unit of a product.
Marginal Cost
The cost added by producing one additional unit of a product or service, which is crucial for decision-making in production and pricing.
Fixed Costs
Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance.
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