An economic profit for a self-employed entrepreneur is
A) an opportunity cost.
B) the same as the normal profit.
C) a profit over and above opportunity cost.
D) None of the above answers is correct.
Correct Answer:
Verified
Q31: Heidi quit her job as a chef
Q32: Economic profit is
A) equal to the firm's
Q33: Flora's Flower Shop bought a new van
Q34: Sheila's Sports Shop is a very popular
Q35: Among the opportunity costs of a firm
Q37: Which of the following statements does NOT
Q38: Heidi quit her job as a chef
Q39: A normal profit is
A) the revenue remaining
Q40: The return that an entrepreneur can expect
Q41: A firm uses labor and capital. To
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents