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Which of the following statements regarding lipid digestion and absorption is true?
Explicit Costs
Direct, out-of-pocket payments made for the operation of a business, such as wages, rent, and materials.
Accounting Profits
The difference between total revenues and explicit costs, representing the net income reported on a company's financial statements.
Economic Profits
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.
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