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What would be the best way to explain to a child that his tooth will be anesthetized?
Positive Profit
A financial gain that occurs when the revenues from business activities exceed the expenses, costs, and taxes needed to sustain the operation.
Tangent
A straight line that touches a curve at a single point without crossing it at that point.
Long-run Equilibrium
A state in a market where all firms are making normal profits, with no incentives for entry or exit, and all factors of production are variable.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.
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