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MATCHING
Identify the letter of the choice that best matches the phrase or definition.
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Economic Profit
The surplus left after subtracting both explicit and implicit costs from total revenue; measures the true profitability of an enterprise beyond accounting profit.
Marginal Cost
Marginal cost is the additional cost incurred by producing one more unit of a good or service.
Average Total Cost
The cost of producing all items, when divided by the total amount of items produced, shows the cost for each unit produced.
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