Examlex
Which of the following is not a contractual savings institution?
Innovation
The process of creating new products, services, or methods that improve efficiency or effectiveness.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, indicating the overall profitability of a business venture.
Profit-Maximizing
A strategy or goal of a firm to achieve the highest possible profit from its operations.
ATC
Average Total Cost, which is the total cost of production divided by the quantity of output produced, including both fixed and variable costs.
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