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Athletes who are blind from birth
Implicit Costs
Expenses that do not involve a direct monetary payment but represent the opportunity cost of using resources owned by the company or individual.
Average Cost of Production
The total cost of production divided by the quantity of output produced, indicating the cost to produce each unit of output.
Total Profit
The net profit a company earns, calculated by deducting all costs from its total income.
Profits
The financial gain obtained when the revenues generated from business activities exceed the expenses, costs, and taxes involved in maintaining the operation.
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