A Tire That Is Off Center and Has an Eccentricity

question 57

Essay

A tire that is off center and has an eccentricity problem is said to have ____________________ runout.

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Definitions:

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources it already owns for production, without direct payment.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.

Economic Profit

The difference between total revenue and total cost, including both explicit and implicit costs.