Examlex
Speculate on the future of virtual reality applications in higher (college and university) education. Describe some possible applications.
Section reference 1: Business Intelligence Applications for Presenting Results
Explicit Costs
Direct, out-of-pocket payments for expenses incurred in conducting business, such as rent, salaries, and materials.
Economic Profits
The disparity between the amount a business earns in total and the sum of its outright and inferred expenses.
Explicit Costs
Direct, out-of-pocket payments for goods and services that are used in the production of other goods and services.
Implicit Costs
The opportunity costs of using resources that a firm already owns, not involving direct monetary payment.
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