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We observe that the price of food rises and the quantity purchased also rises.This means the
Capital Investment
Funds invested in a firm or enterprise for the purpose of furthering its business objectives, including purchasing assets or stocks.
Short-Run
A timeframe in which a company cannot alter at least one of its resources.
Economic Profit
The difference between the total revenue earned by a firm and the total cost of inputs, including both explicit and implicit costs.
Implicit Costs
The opportunity costs of utilizing resources owned by the firm that could have been employed for other purposes.
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