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PHP code explanation "<?=$variable?>

Hello experts,

I've seen this simple bit of code and I'm trying to understand it. It looks like PHP and it's requesting to print a variable. Can someone shed more light on this? thanks.
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thanks for speed reply. i get it now, so this is just a shorthand way of doin the echo. is it purely down to individual preference as to which one to use?
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thanks for the help! I hope I've devided the points in a fair way.