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You are on the scene of a motor vehicle collision in which a car has driven off the roadway and is resting at the bottom of an embankment.The driver is in severe respiratory distress and is unable to speak.His skin is flushed and he has hives.A Medic-Alert bracelet indicates an allergy to peanuts.You notice a candy bar wrapper on the floor of the car.Which of the following should you do first?
Accounting Profit
The total revenue of a business minus the explicit costs of operating the business.
Implicit Costs
The opportunity costs associated with a company's use of resources that are not directly paid for or billed.
Implicit Cost
The opportunity costs that are not directly paid or incurred but represent the loss of alternative benefits when resources are used in a particular way.
Capital
A resource, such as equipment or buildings, used to produce goods and services.
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