If a firm's total explicit costs are $1,000 and total implicit costs are $500 and it has a total revenue of $900, it makes a(n)

Name: If a firm's total explicit costs are $1,000 and total implicit costs are $500 and it has a total revenue of $900, it makes a(n)
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The firm has an accounting loss because total revenue ($900) is less than explicit costs ($1,000). It also has an economic loss because total revenue is less than the sum of explicit and implicit costs ($1,500).

If a Firm's Total Explicit Costs Are $1,000 and Total