Which equation is correct?
A) Economic profit = Total revenue - Implicit costs
B) Economic profit = Total revenue - Opportunity costs - Implicit costs
C) Economic profit = Total revenue - Normal costs
D) Economic profit = Total revenue - Explicit costs - Implicit costs
Correct Answer:
Verified
Q63: Micah has decided to leave his $70,000-a-year
Q64: Micah has decided to leave his $70,000-a-year
Q65: Micah has decided to leave his $70,000-a-year
Q66: Normal profit is
A) positive economic profit.
B) just
Q67: Which statement is NOT true?
A) Normal profit
Q69: Which equation is correct?
A) Economic profit =
Q70: Which equation is correct?
A) Economic profit =
Q71: Profit in excess of both explicit and
Q72: Arlene makes earrings in the shape of
Q73: Normal profit is equal to
A) revenue minus
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