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A nurse is initiating program planning.Which of the following actions will the nurse perform first?
Accounting Profit
The difference between total revenue and explicit costs.
Economic Profit
The difference between total revenue and total costs, including explicit and implicit costs.
Implicit Costs
The opportunity costs of using resources that a firm already owns to produce goods or services instead of earning money from these resources elsewhere.
Accounting Costs
Expenses recognized in a company's financial statements or accounts, representing outlays related to its operations and maintenance.
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