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If there are no profits in competitive equilibrium, why do firms produce? How can they stay in business?
Machinery
Equipment, especially those powered by fuel or electricity, used in the industrial production or manufacturing process.
Accumulated Depreciation
The overall depreciation cost that has been allocated to a fixed asset over the span of its useful life.
Patent Rights
Legal protections granted to inventors, giving them exclusive rights to produce, use, and sell their inventions for a limited period.
Amortization
The process of spreading out a loan or an intangible asset's cost over its useful life.
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