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Which payroll tax is imposed on both the employee and the employer?
Maximum Profit
The highest possible financial gain that a firm can achieve in a given period, determined by optimizing production and sales while minimizing costs.
Efficient Scale
The level of production at which the average total cost of production is minimized, allowing a firm to achieve the optimal distribution of resources.
Excess Capacity
A situation where a firm's facilities can produce more than is necessary to meet the demand, often leading to underused resources.
Profit-Maximizing
The process or strategy by which a firm determines the price and output level that returns the greatest profit.
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