______ represents the minimum profit necessary to keep a firm in operation.
A) Accounting profit
B) Economic profit
C) Normal profit
D) Explicit profit

Question

Quizplus · Accepted Answer

Normal profit is the minimum amount of profit needed for a company to remain viable in the market. It is considered a component of the firm's opportunity costs and is factored into economic profit calculations.

______ Represents the Minimum Profit Necessary to Keep a Firm