Examlex
The prescribed version of Alli is
Economic Profits
Profits exceeding the opportunity costs of a firm, representing earnings beyond the breakeven point.
Economic Costs
The total value of all resources used to produce a good or service, including both explicit and implicit costs.
Accounting Profit
The difference between total revenue and explicit costs; it does not account for implicit costs, unlike economic profit.
Total Revenue
The entire amount of income generated by the sale of goods or services before any costs are subtracted.
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