Examlex
Match each term with its definition.
-This should always be used when transferring a patient to or from a wheelchair
Economic Profit
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.
Accounting Profit
The total revenue of a business minus the explicit costs of operating the business.
Implicit Costs
The opportunity costs associated with a company's use of resources that are not directly paid for or billed.
Implicit Cost
The opportunity costs that are not directly paid or incurred but represent the loss of alternative benefits when resources are used in a particular way.
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