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Answer the question.
-Find the scale ratio for a map if 4 centimeters on the map represents 10 kilometers on the ground.
Economic Profit
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing the surplus value created by a firm beyond the normal return to its inputs.
Market Price
The current price at which an asset or service can be bought or sold in a public marketplace.
Colluded
When two or more parties come together, often in secret, to limit open competition by deceiving or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair market advantage.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period.
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