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How can you check that the phase rotation of both AC generators being synchronized is the same?
Economic Profit
The difference between total revenues and total costs, including both explicit and implicit costs, representing the financial gain in undertaking a particular business activity.
MR = MC
An economic condition where a firm's marginal revenue equals its marginal cost, often used to determine the profit-maximizing level of production.
Market Equilibrium
A state where the supply of a good matches its demand, with no external pressure to change the price or quantity available in the market.
Economic Profits
The difference between total revenues and total costs, including both explicit and implicit costs, representing the additional gain to entrepreneurs beyond the normal profit rate.
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