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The hypothesis for the origin of eukaryotes through serial endosymbiosis proposes that
Explicit Costs
These are direct monetary payments a firm makes to purchase inputs for its production, such as wages, rent, and materials.
Implicit Costs
The opportunity costs of using resources already owned by the firm for production, as opposed to external spending.
Economic Profit
The difference between revenue generated from output and the opportunity costs of inputs used, considering both explicit and implicit costs.
Accounting Profit
The profit of a company after all expenses have been deducted from revenues, but before deducting income taxes.
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