Examlex
An area in the left frontal lobe of the brain that is involved in speech production.
Marginal Cost
The growth in aggregate expenditure brought about by generating an extra unit of a product or service.
Economic Profit
The difference between total revenue and total costs, where costs include both explicit and implicit costs.
Competitive Firm
A company that operates in a market where it must take the prevailing market price as given because the firm's individual sales do not significantly affect the market price.
Total Revenue
The total income generated by a firm from selling its goods or services, calculated as the price per unit times the number of units sold.
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