Examlex
An especially powerful midrange computer is called a supercomputer.
Zero Economic Profits
Zero economic profits occur in a competitive equilibrium when firms earn just enough revenue to cover their total costs, including the opportunity costs.
Short Run
A period of time during which at least one of a firm's inputs is fixed, limiting its ability to increase production.
Long Run
A period in economics in which all factors of production and costs are variable, allowing for full adjustment to changes.
Total Revenue
Total revenue is the total income generated by a company from its sales of goods or services before any expenses are subtracted.
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