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Economic Profits
The disparity between total income and combined expenses, encompassing both out-of-pocket and hidden costs.
Economic Profits
The margin between an organization's complete earnings and its aggregate expenditures, covering both visible and hidden costs.
Implicit Costs
Implicit costs are the opportunity costs of using resources owned by the business for production instead of lending, selling, or renting them out.
Accounting Profits
The net income for a company determined by subtracting total expenses from total revenues, according to generally accepted accounting principles (GAAP).
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