Examlex
Benzodiazepines __________.
Economic Profit
The profit a firm makes after subtracting both its explicit (out-of-pocket) and implicit (opportunity) costs.
Total Costs
The aggregate amount of all expenses associated with the production of a good or service, including both fixed and variable costs.
Implicit Costs
These are the costs of using resources owned by the company for production that aren't directly paid for or incurred as a clear expense.
Explicit Costs
Direct payments made to others in the course of running a business, such as wages, rent, and materials.
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