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Which of the Following Is Equivalent to Economic Profit

Question 176

Multiple Choice

Which of the following is equivalent to economic profit?
(i) total revenue less explicit costs and less implicit costs
(ii) total revenue less opportunity costs
(iii) accounting profit


A) (i) only
B) (i) and (ii)
C) (ii) and (iii)
D) (i) , (ii) and (iii)

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