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Gerald Clore set up a summer camp for children directed by a European-American male and female and an African-American male and female with each campsite having three African-American and three European-American campers and one African-American and one European-American counselor.Regarding the children's attitudes toward the opposite-race after this camp experience,testing showed that the attitudes
Economic Profit
The difference between total revenue and total economic costs (including both explicit and implicit costs), reflecting the true economic performance of a company.
Purely Competitive
An economic model where numerous small businesses operate, offering identical products, with unrestricted market entry and exit, and complete transparency of information.
Short Run
A period in which at least one input in the production process is fixed and cannot be varied to influence output.
Economic Profit
The difference between a firm's total revenue and all costs, including both explicit and implicit costs.
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