Examlex
What does the term viral marketing mean?
Zero Economic Profit
A situation where a firm's total revenues are exactly equal to its total costs, including opportunity costs, typically occurring in perfect competition in the long run.
Marginal Firm
A business that operates at the minimum level of profitability where any decrease in market prices would cause it to exit the market.
Accounting Profits
Accounting profits represent the financial gains of a business as calculated by revenue minus explicit costs, according to standard accounting practices.
Profit-Maximizing
A method or strategy that firms use to achieve the highest possible profit from their operations.
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