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Which of the following bodies is comprised mostly of plasma?
Implicit Costs
Costs that represent the opportunity cost of using resources owned by the firm for its own production instead of earning income elsewhere.
Accounting Profit
The net income reported on the financial statements, calculated as total revenues minus explicit costs.
Economic Profit
The difference between the total revenue generated by a business and the total costs, including both explicit and implicit costs.
Marginal Product
The additional output that is produced by adding one more unit of a particular input, holding all other inputs constant.
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