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In the context of tapping technology and automation, desktops, notebooks, laptops, tablets, and smartphones are examples of _____.
Explicit Costs
Direct payments made to others in the course of running a business, such as wages, rent, and materials.
Accounting Profits
The net earnings of a company as calculated by subtracting total expenses from gross revenue, according to accepted accounting principles.
Economic Profit
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, reflecting the financial gain exceeding the opportunity cost of resources used.
Accounting Profit
Net income of a company is determined by deducting total expenses from total revenues, in line with established accounting norms.
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