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Outsourcing can be risky because it decreases the firm's strategic flexibility.
Price
Price is the amount of money required to purchase a good or service, often determined by the balance of supply and demand in a market.
Economic Profit
The excess of total revenue over total costs, including both explicit and opportunity costs.
Price
The sum of money needed to buy a product or service.
Short-Run Supply Curve
A graphical representation showing the quantity of a good that producers are willing and able to sell at different prices over a short period.
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