Examlex
The difference between a bank and a trust company is that only the trust company can provide estate planning and administrative services.
Average Revenue
The revenue earned per unit of output sold; calculated by dividing the total revenue by the number of units sold.
Total Revenue
The total amount of money received by a firm from selling its goods or services.
Total Cost
The complete amount of money required for the production of a given level of output, including both fixed and variable costs.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, representing the profits that exceed normal expected profits.
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