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A predetermine overhead rate is calculated using which of the following formulas?
Incentive
A factor, either monetary or non-monetary, that motivates individuals or entities to perform an action or engage in a certain behavior.
Long Run
A period of time in economics sufficient for all markets to adjust to changes, including those of supply and demand.
Economic Profits
The total revenue of a business minus its explicit and implicit costs; a measure of incremental gain over the total costs, including opportunity costs.
Supply Curve
A graph showing the relationship between the price of a good and the quantity supplied by producers.
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