Examlex
When using a DBMS in a file server environment:
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, indicating the efficiency of resource utilization beyond just financial gain.
Marginal Costs
The cost of producing a subsequent unit of a product or service.
Long Run
The long run is a period in economics where all inputs or factors of production can be varied, allowing firms to adjust fully to market conditions.
Economic Profit
The split between total revenue generation and total cost accrual, encompassing both declared and understood costs.
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