Examlex
Which statement is TRUE of the effects of corruption?
Normal Profit
The minimum level of profit necessary for a company to remain competitive in the market, covering opportunity costs but not generating economic profit.
Market Equilibrium
The state in which market supply and demand balance each other, and, as a result, prices become stable.
Economic Profit
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, reflecting the true profitability of the firm.
Economic Profit
The gap between the total income a company makes and all of its expenses, covering both direct and indirect costs.
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