Question
What is the lowest value of economic profit that the firm must earn if it is to keep its resources in the current industry?
do some research, then take a shot. Hint: what is the difference between economic profit and accounting profit.
do some research, then take a shot. Hint: what is the difference between economic profit and accounting profit.
Answers
Julie
zero economic profit?
tina
What is the lowest value of economic profit that the firm must earn if it is to keep its resources in the current industry?
Anonymous
Economic profit equal to 10% of the cost of capital plus labor
laila
Economic profit that is less than zero
Ahmed
Economic profit equal to explicit costs of production