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It is sometimes difficult to predict memory performance outside of the lab because
Economic Profits
Profits exceeding the opportunity costs of all resources used, including both explicit and implicit costs.
Accounting Profits
The difference between total revenues and explicit costs, representing the net income a company reports on its financial statements.
Most Efficient Output
The level of production at which a firm operates with the lowest average total cost, achieving optimal efficiency.
Long Run
A period in economic analysis in which all inputs can be adjusted and no factors are fixed.
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