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There are ________ σ and ________ π bond(s) in the H2C=CH2 molecule.
Economic Profits
The excess of total revenue over total costs, including both implicit and explicit costs.
Implicit Costs
Costs that represent the opportunity cost of using resources that are not directly paid for, such as the owner’s time or the use of assets owned by the firm.
Explicit Costs
Direct, out-of-pocket payments for resources or services used in the production process.
Accounting Profits
Represents the difference between total revenue and explicit costs of a firm.
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