Normal Profits Are Profits in Excess of Both Implicit and Explicit

question 309

True/False

Normal profits are profits in excess of both implicit and explicit costs.

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Definitions:

Grid Cells

Neurons located in the brain's entorhinal cortex that activate when an animal is at multiple locations forming a grid-like pattern, crucial for spatial navigation.

Place Cells

Hippocampal neurons maximally responsive to specific locations in the world.

Head Direction Cells

Neurons located in several brain regions that increase their firing rates when an animal's head points in a specific direction, aiding in spatial orientation and navigation.

Orientation Cells

Neurons in the visual cortex of the brain that respond preferentially to objects of specific orientations, such as vertical or horizontal.