Examlex
Which laboratory test is useful in the differential diagnosis of polycythemia?
Normal Profit
The minimum profit necessary for a company to remain in business, equal to the opportunity cost of capital and entrepreneurial effort not invested elsewhere.
Entrepreneur's Talent
The unique set of skills, creativity, and determination that an entrepreneur brings to identifying opportunities and building a business.
Implicit Costs
Implicit costs refer to the opportunity costs of using resources that a company already owns, without any direct payment, for its own production purposes.
Explicit Costs
Direct, out-of-pocket payments for wages, rent, materials, and other inputs required for the production of goods or services.
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