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As railroads spread into Texas and across the plains,the cattle business:
Interest Rate
The percentage of a sum of money charged for its use, often expressed annually.
Economic Profits
The surplus gained by a firm when total revenue exceeds total costs, including both explicit and implicit costs, reflecting the financial advantage of a particular course of action.
Accounting Profits
The total revenue of a business minus explicit costs; also known as net income.
Production Costs
The total expenses incurred in the manufacturing or creation of a product or service.
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