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What is the fate of pyruvic acid in an organism that uses aerobic respiration?
Economic Profit
Economic profit is the total revenue of a company after subtracting both the explicit and implicit costs, including opportunity costs, reflecting the true profitability of a business.
ATC
Average Total Cost; it's the sum of all production costs divided by the quantity of output produced, representing the per-unit cost of production.
AVC
AVC, or Average Variable Cost, is the cost per unit of variable inputs divided by the quantity of output produced.
Variable Cost
Costs that change in proportion to the level of production or sales volume.
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