Economic theory assumes that a firm's goal is to:
A)earn an accounting profit.
B)earn an economic profit.
C)maximize its accounting profit.
D)maximize its economic profit.

Name: Economic theory assumes that a firm's goal is to: A)earn an accounting profit. B)earn an economic profit. C)maximize its accounting profit. D)maximize its economic profit.
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Question

Quizplus · Accepted Answer

Firms attempt to maximize economic profit, which accounts for both explicit and implicit costs.

Economic Theory Assumes That a Firm's Goal Is To