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What are the three ways used to maintain synchronization in synchronous connections?
Purely Competitive Market
A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit, leading to price being dictated by supply and demand.
Economic Profit
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing surplus value created.
Average Fixed Cost
The fixed costs of production divided by the quantity of output produced.
Total Cost
The complete cost of producing a specific amount of goods or services, including both fixed and variable costs.
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