Examlex
Name the following compound.
Economic Profit
The profit from business activities minus both the explicit and implicit costs, including opportunity costs.
Accounting Profit
The net income of a business as calculated by subtracting total expenses from total revenues, following standard accounting principles.
Marginal Costs
The additional expense incurred from the creation of one extra unit of a product, essential in economic decision-making.
Marginal Cost Curve
A graphical representation showing the cost of producing one more unit of a good.
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