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    Business
  3. Study Set
    Economics Principles and Policy Study Set 2
  4. Exam
    Exam 8: Output, Price, and Profit: the Importance of Marginal Analysis
  5. Question
    Total Profit = Total Revenue − Total Cost (Including Opportunity
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Total Profit = Total Revenue − Total Cost (Including Opportunity

Question 84

Question 84

Multiple Choice

Total profit = Total revenue − Total cost (including opportunity cost) . Total profit defined in this way is called


A) accounting profit.
B) economic profit.
C) absolute profit.
D) relative profit.

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