Examlex
Which of the following statements is LEAST-Likely true?
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.
Marginal Cost
The additional cost incurred by producing one more unit of a good or service.
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