Profit Is the

question 91

Multiple Choice

Profit is the

• A) difference between total revenue and total explicit costs.
• B) ratio of total revenue to total cost.
• C) difference between total cost and total revenue.
• D) goal of only large firms.
• E) difference between total revenue and the sum of explicit and implicit costs.

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Definitions:

Experimental Science

A branch of science that relies on controlled experiments to validate hypotheses and theories.

Synchronous

Coordinated communication—for example, focus group members interacting with each other in “real time.”

Real Time

A mode of operation in computing where processes are executed immediately and without delay.

Ethnography of Communication

A research methodology focusing on the observation and analysis of communication practices within specific cultural contexts.