Economic profits are calculated by:
A.taking the difference between total revenue and the sum of explicit and implicit costs.
B.taking the difference between total revenue and explicit costs only.
C.taking the difference between the total revenue and implicit costs only.
D.summing total revenue, explicit and implicit costs.

Question

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The Answer of Economic profits are calculated by:
A.taking the difference between total revenue and the sum of explicit and implicit costs.
B.taking the difference between total revenue and explicit costs only.
C.taking the difference between the total revenue and implicit costs only.
D.summing total revenue, explicit and implicit costs.

Economic Profits Are Calculated By