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What is the relationship between resolution and screen clarity?
Explicit Costs
Direct, out-of-pocket payments for goods or services used in production, such as wages or rent.
Accounting Profit
The financial gain calculated by subtracting total explicit costs from total revenue, not considering implicit costs.
Economic Profit
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.
Accounting Profit
The total revenue of a business minus the explicit costs of operating the business.
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