Examlex
From which of the following does the ability to exclude others from using technology arise?
Firm
A business or economic entity engaging in commercial, industrial, or professional activities.
Opportunity Costs
The loss of potential gain from other alternatives when one alternative is chosen.
Profit-maximizing
A firm's strategy or approach to achieve the highest possible profit from its operations, focusing on optimizing production and sales.
Accounting Costs
The recorded expenses in the financial statements of a company, including both fixed and variable costs incurred during business operations.
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