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In the long run, perfectly competitive firms cannot make an economic profit. Why?
Accrued Interest
The accumulated interest on a note payable or receivable that has been earned but not yet received or paid out.
Semiannual Interest
Interest that is calculated and paid twice a year, often on bonds or loans.
Subsidiary Company
A company that is completely or partly owned and wholly controlled by another company, known as the parent company.
Parent Company
A corporation that has control over one or more subsidiary companies, usually by owning a significant portion of their stock.
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