A normal profit is
A) the average profitability of a firm over one complete business cycle.
B) calculated by subtracting explicit costs from total revenue.
C) the "price" required to retain entrepreneurial talent in some particular line of production.
D) the amount by which total revenue exceeds total operating costs.
Correct Answer:
Verified
Q62: Economic profit affects
A) the allocation of resources
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Q66: Pure, or economic, profit is
A) the amount
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A)
Q70: Effective usury laws
A) subsidize lenders.
B) penalize those
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Q72: The largest single share of all income
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