How is the popular notion of business profit different from the economic profit concept? What role does

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How is the popular notion of business profit different from the economic profit concept? What role does the idea of normal profits play in this difference?

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Question Posted: Feb 13, 2015 09:46 AM

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How is the popular notion of business profit different from the economic profit concept? What role does

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The key distinction is that business or accounting profit provides a measure of the total ret...View the full answer

Managerial Economics

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