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Which of the following would have an open circulatory system?
Implicit Costs
Additional costs that do not appear on the financial statements of a company. These costs include items such as the opportunity cost of capital.
Economic Profits
Profits that exceed the opportunity costs of all resources used by the firm, including both explicit and implicit costs.
Sunk Costs
Costs that cannot be recovered. They are unavoidable even in the long run.
Economic Environment
The economic environment consists of all the external economic factors that influence buying habits, business operations, and growth prospects of entities.
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