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In Change Competency: Immediately after the papers were signed, Tony Hsieh of Zappos sent an e-mail to his employees telling them that Zappos was now officially part of Amazon. He addressed possible concerns, assured them the leadership team would remain intact, and their jobs would be secure. How did employees react to this message?
Economic Profit
The extra income a business makes after accounting for all costs and expenditures, including opportunity costs.
Profit-Maximizing Output
Profit-maximizing output is the quantity of production at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.
Total Variable Cost
The sum of all costs that vary with the level of output, such as materials and labor, distinct from fixed costs.
Economic Profit
The disparity between total sales and the combined total of explicit and implicit costs.
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