Examlex
Which of the following is NOT true about the refugee situation in Southeast Asia?
Explicit Costs
Refers to direct monetary expenses businesses incur in their operations, such as wages, rent, and materials.
Normal Profit
Normal profit is the minimum amount of profit needed for a company to remain competitive in the market, covering all its opportunity costs.
Normal Profits
The level of profit that business owners consider satisfactory or "normal", essentially covering both explicit and implicit costs, including a normal rate of return on investment.
Accounting Profits
The total revenue of a business minus the explicit costs; it's the profit figure calculated according to generally accepted accounting principles.
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