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The first cloned cat, called Carbon Copy, was a calico, but she looked significantly different from her female parent. Why?
Economic Profit
The profit or loss that a company makes, calculated by subtracting both the explicit and implicit costs from total revenues.
MR Curve
The Marginal Revenue curve represents the change in total revenue that results from selling one additional unit of a good or service.
Opportunity Costs
The value of the best alternative forgone when a decision is made to pursue a certain action.
MR
Marginal Revenue, the increase in revenue that results from selling one additional unit of a product.
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