Normal profit is equal to
A) revenue minus explicit cost.
B) revenue minus opportunity cost.
C) zero economic profit.
D) explicit cost minus implicit cost.
Correct Answer:
Verified
Q68: Which equation is correct?
A) Economic 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
Q74: A local business earned total revenue of
Q75: A local business earned total revenue of
Q76: In economic terms, the short run is
A)
Q77: Which factor of production is usually assumed
Q78: Which of these is NOT typical of
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