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With the help of an example explain the difference between accounting and economic profit. Building on your answer then explain why a perfectly competitive firm
With the help of an example explain the difference between accounting and economic profit. Building on your answer then explain why a perfectly competitive firm would operate in the long run even if it makes 0 profit.
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International Accounting
Authors: Timothy Doupnik, Hector Perera
3rd Edition
978-0078110955
