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Which statement is false
Economic Profit
The excess of total revenue over total costs, including both explicit and opportunity costs.
Price
The sum of money needed to buy a product or service.
Short-Run Supply Curve
A graphical representation showing the quantity of a good that producers are willing and able to sell at different prices over a short period.
Marginal Cost Curve
A graph showing the change in the cost of producing one more unit of a good as production levels change.
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