Normal profit is
A) part of the firm's opportunity costs.
B) the same as economic profits.
C) part of the firm's explicit costs.
D) Answers A and B are correct.
E) Answers A and C are correct.
Correct Answer:
Verified
Q32: Suppose a firm's total revenue is $1,000,000.The
Q33: Which of the following are correct statements
Q34: Economic depreciation is the
A) fall in value
Q35: Interest is considered a(n)
A) explicit cost when
Q36: Normal profit is a(n)_ cost because _.
A)
Q38: The opportunity cost of owning and using
Q39: A normal profit is defined as
A) total
Q40: A firm's total revenue minus its total
Q41: The short run is
A) less than one
Q42: Costs paid in money to hire a
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