If a firm's accounting profit is positive,its economic profit must also be positive.

Name: If a firm's accounting profit is positive,its economic profit must also be positive.
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Accounting profit only takes into account explicit costs, such as wages and rent, while economic profit considers both explicit and implicit costs, such as opportunity costs and the owner's time and effort. Therefore, a firm's accounting profit may be positive while its economic profit is negative or zero.

If a Firm's Accounting Profit Is Positive,its Economic Profit Must