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What is an enema?
Economic Profits
The financial gain exceeding the total costs, including both the explicit and implicit costs, of a business operation.
Long Run
A period in economics sufficient for all markets to adjust to equilibrium, including the production and entry and exit of firms.
Economic Profit
The financial margin that results from subtracting a business's complete costs, covering both explicit and implied ones, from its total income.
Profit-Maximizing Price
The price at which a company can achieve the maximum possible profit while selling its products or services, considering the market demand and production costs.
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