5. A firm earns a normal profit when its a. accounting profit equals 0. b. economic profit...

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5. A firm earns a normal profit when its

a. accounting profit equals 0.

b. economic profit is positive.

c. total revenue equals its total costs.

d. accounting profit equals its economic profit.

e. economic profit equals its total explicit and implicit costs.

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Krugmans Economics For AP

ISBN: 9781464122187

2nd Edition

Authors: Margaret Ray, David Anderson

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