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Jimmy Bartlett just got started using a storage device called Dropbox. He stores most of his information with this service. Jimmy is using cloud computing.
Production Costs
The total expenses incurred in the manufacturing or creation of a product or service.
Economic Profit
The difference between total revenue and total costs, including both explicit and opportunity costs, indicating true profitability.
Explicit Costs
Direct payments made to others in the course of running a business, such as wage, rent, and materials.
Production Costs
The total expense incurred in manufacturing a product or providing a service, including raw materials, labor, and overhead costs.
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