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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Explain why earning zero economic profit is not as bad as it sounds.

To determine

Explain whether earning zero economic profit is not as bad as it sounds.

Explanation

The zero economic profit is also called normal profit. The normal profit is the situation in which a firm raises sufficient revenue to cover its total costs and remain competitive in an economy...

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