Examlex
Research conducted in the field of __________ is based on the premise that the frequency with which we engage in a particular behavior depends on the results of that behavior in the past.
Opportunity Costs
The cost of forgoing the next best alternative when making a decision or choice.
Implicit Costs
Indirect, non-out-of-pocket expenses which represent the opportunity costs of using resources owned by the firm for its operations.
Accounting Profit
The difference between total revenue and explicit costs.
Economic Profit
The difference between total revenue and total costs, including explicit and implicit costs.
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