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Profit
The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
MC = MR
This abbreviation stands for the equality of marginal cost (MC) and marginal revenue (MR), a condition for profit maximization in perfectly competitive markets.
Profit
The profit achieved when the income from business operations surpasses all associated expenses, costs, and taxes.
MC < MR
A condition in which the marginal cost of producing an additional item is less than the marginal revenue earned from selling it, suggesting that increasing production is profitable.
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