How do you calculate whether your business has an economic profit using marginal approach to profit maximization? and what does an economic profit means?

Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter8: Output, Price, And Profit: The Importance Of Marginal Analysis
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How do you calculate whether your business has an economic profit using marginal approach to profit maximization? and what does an economic profit means?

 

 

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