Examlex
Use Cramer's rule to solve the system.
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Total Costs
An alternate formulation for the sum of all expenses incurred in the production of goods or services, reflecting both fixed and variable components.
Profit
The financial gain obtained when the revenue from business activities exceeds the costs and expenses associated with operating the business.
Economic Profit
The total revenue from operations minus both the explicit and implicit costs; it's a measure of profitability factoring opportunity costs.
Accounting Profit
The net income a company reports on its financial statements, calculated as total revenues minus explicit costs of doing business.
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