Economic profits [ Π(q) ] are: Group of answer choices b. the difference between total revenue...

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Economic profits [ Π(q) ] are: Group of answer choices b. the difference between total revenue...

Economic profits [ Π(q) ] are:

Group of answer choices

b. the difference between total revenue and total costs.

a. the opportunity costs of all inputs.

c. a rate of profit that is just sufficient to keep owners and investors satisfied.

d. anything greater than the normal opportunity cost of investing.

business economics

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Answer 1

Answer #1

Ans) the correct option is the difference between total revenue and total costs.

Economic profit is the difference between the revenue earned and cost incurred.

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Answer 2

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