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Lithium forms compounds which are used in dry cells and storage batteries and in high-temperature lubricants. It has two naturally occurring isotopes, 6Li (isotopic mass = 6.015121 amu) and 7Li (isotopic mass = 7.016003 amu) . Lithium has an atomic mass of 6.9409 amu. What is the percent abundance of lithium-6?
Economic Profit
The total revenue of a business minus its explicit and implicit costs, showing the actual financial gain.
Opportunity Costs
The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on.
Perfectly Competitive
A market structure characterized by many buyers and sellers, all of whom are price takers with the product being homogeneous.
Sunk Costs
Expenses that have already been incurred and cannot be recovered, which should not influence future business decisions.
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