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A person with O type blood _______.
Input
The resources used in the production process, such as labor, materials, and machinery.
Explicit Costs
These are direct payments made to others in the course of running a business, such as wages, rent, and materials.
Implicit Costs
Costs that represent potential benefits foregone when resources are not utilized in their next-best alternative use.
Economic Profit
The financial gain achieved when revenues from business activity exceed the explicit and implicit costs of that activity.
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