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Janet used to pout in order to get her own way, but her parents started ignoring that behaviour. Now she rarely pouts to get her own way. Which process has occured?
Accounting Profit
The financial gain calculated by subtracting total explicit costs from total revenue, representing the net income reported on a company's financial statements.
Explicit Costs
Direct, out-of-pocket payments for expenses incurred in conducting business, such as rent, salaries, and materials.
Economic Profits
The disparity between the amount a business earns in total and the sum of its outright and inferred expenses.
Explicit Costs
Direct, out-of-pocket payments for goods and services that are used in the production of other goods and services.
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