Question
Economic profit is equal to A.total revenue minus the explicit cost of producing goods and services. B.total revenue minus the opportunity cost of producing goods
Economic profit is equal to
A.total revenue minus the explicit cost of producing goods and services.
B.total revenue minus the opportunity cost of producing goods and services.
C.total revenue minus the accounting cost of producing goods and services.
D.average revenue minus the average cost of producing the last unit of a good or service.
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Survey of Economics
Authors: Irvin B. Tucker
8th edition
1111989664, 978-1133713357, 1133713351, 978-1111989668
