Zero economic profit for a firm means _____. (Check all that apply.) a it receives no normal profit b its total revenue equal its total cost c its accounting profit is also zero d its accounting profit equals its implicit costs
Zero economic profit for a firm means _____. (Check all that apply.) a it receives no normal profit b its total revenue equal its total cost c its accounting profit is also zero d its accounting profit equals its implicit costs
Chapter23: Profit Maximization
Section: Chapter Questions
Problem 15E
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Question
Zero economic profit for a firm means _____. (Check all that apply.)
a
it receives no normal profit
b
its total revenue equal its total cost
c
its accounting profit is also zero
d
its accounting profit equals its implicit costs
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