Examlex
Find the vertex of .
Accounting Profit
Revenue minus explicit cost.
Factors of Production
The resources used in the creation of goods and services, traditionally categorized into land, labor, capital, and entrepreneurship.
Opportunity Cost
The real cost of an item: what you must give up in order to get it.
Explicit Cost
Direct, out-of-pocket payments for expenses incurred in business operations, such as wages, rent, and materials.
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