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Was the personal background and skill of Adolf Hitler, the state of German society in the early 1930s, or the political and economic problems of the Weimar Republic most important in bringing Hitler to power in 1933? How, and why?
Explicit Costs
Direct, out-of-pocket payments for wages, rent, materials, and other inputs necessary for a business to operate.
Economic Profit
The distinction between gross revenue and total expenditures, inclusive of both explicit and latent costs.
Normal Rate
Typically refers to a benchmark interest rate considered to be standard based on historical averages, often used by central banks.
Market Period
The short timeframe in which the supply of a good is fixed, typically because production cannot be adjusted quickly in response to changes in demand.
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