Answered: Total revenue minus explicit and…

Total revenue minus explicit and implicit costs equals which of the following? excess profits O accounting profit economic profit O foregone profits

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 5MC

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Answer this for me mate. Much appreciated.

Total revenue minus explicit and implicit costs equals which of the following?
excess profits
accounting profit
economic profit
O foregone profits

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