Examlex
A Mantoux test is used to test for which disease? ____________________
Economic Rents
Extra earnings above the minimum amount necessary to keep a factor of production in its current use.
Accounting Costs
The explicit costs of a business, representing the actual outflows of cash for wages, rent, materials, and other tangible inputs.
Economic Costs
The total cost of choosing one action over another, including both explicit (direct monetary costs) and implicit (opportunity costs) factors.
Long-Run Equilibrium
A state in a market where all resources are optimally allocated and economic forces are balanced, with no tendency for change until external conditions change.
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