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Economic Profit
The total revenue of a business minus its explicit and implicit costs; represents additional wealth created by a company over and above its costs.
Total Revenue
The overall amount of money generated from the sale of goods or services.
Total Cost
The total expenditure incurred by a firm to produce a specific amount of goods or services, including both fixed and variable costs.
Economic Profit
The total revenue of a firm minus its explicit and implicit costs, measuring the surplus gained over all resources employed.
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