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Tariff barriers can make exporting uneconomical.
Economic Profit
The difference between the total revenue generated by a business and its total costs, including both explicit and implicit costs.
Fixed Amounts
Specified quantities that do not change over a designated period of time or under particular conditions.
Total Product
The total quantity of output produced by a firm or economy during a given period.
Wage Rate
The standard amount of compensation given to an employee for services rendered, typically expressed per hour or year.
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