Economic profit is defined as total revenue
A)plus total costs
B)minus marginal costs
C)minus variable costs
D)minus total costs
E)minus fixed costs

Name: Economic profit is defined as total revenue A)plus total costs B)minus marginal costs C)minus variable costs D)minus total costs E)minus fixed costs
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Economic profit is calculated by subtracting total costs from total revenue. Therefore, the correct choice is D (minus total costs).

Economic Profit Is Defined as Total Revenue