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How is variation maintained in population?
Security Mispricing
The phenomenon when a security (stock, bond, etc.) is priced above or below its intrinsic value.
Risk-Free
Pertaining to an investment with guaranteed returns and negligible risk of financial loss.
Economic Profits
Profits or losses calculated by considering both explicit costs, such as direct expenses, and implicit costs, like opportunity costs.
Arbitrage Opportunity
The opportunity to buy an asset at a low price in one market and sell it for a higher price in another, exploiting price discrepancies.
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