Examlex
Failure of the testes to descend into the scrotal sac is called
Economic Profit
The difference between total revenue and total cost, including both explicit and implicit costs.
Investment
The allocation of resources, usually financial, into assets with the expectation of generating income or profit in the future.
Economic Rent
A return on an asset or payment to a factor of production in excess of what's necessary to keep it in its current use.
LAC
Long-run Average Cost, which represents the per unit cost of production when all inputs, including capital, are variable.
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