Formula to Economic profit

Can someone please help me in finding out the most accurate answer from the following question. The Economic profit equivalents: (1) Accounting profit minus the implicit costs. (2) Normal profit. (3) Net revenue minus the implicit costs. (4) Net revenue minus the explicit costs.

View Complete Question

Related Questions in Microeconomics

Q : Consumer Equilibrium-Utility

Assume that you are an avid golfer and profit $36 worth of pleasure from the first golf hole played on any specific day, however the additional pleasure you profit from playing succeeding holes falls by $2 per extra hole. The $40 greens fee is needed to begin golfing

Q : Diminishing the Marginal Utility of

The additional dollar of income would be most probable to mean more to a usual poor individual than to a rich one if: (i) Efforts to raise income are proportional to the value of additional dollar earned. (ii) Each and every individual had similar total utilities from

Q : Average cost-aversge variable

Relation between Average cost, aversge variable cost and Marginal cost:

Q : Type of model used by economists Which

Which type of model is used by the economists to analyze competitive market?

Q : Occurrence of natural barriers to entry

Natural barriers to entry within a market arise primarily by: (w) strategies by existing firms to discourage the entry of new firms. (x) perfectly inelastic demands for products. (y) the declining cost structure inherent in producing specific goods. (

Q : Effected income of a small changes The

The income effect of a small change in wage rate in demonstrated figure of Glynn dominates the substitution effect at: (1) point a. (2) point b. (3) point c. (4) point d. (5) every point specified in the figure.

Q : Difference between voluntary and

Difference between voluntary and involuntry employment: Voluntary unemployment is that portion of working force not willing to engage itself is a gainful occupation. An Involuntary unemployment is that portion of labour force that is willing and capab

Q : Depended price on present value The

The prospects for getting rich by buying assets at prices substantially below their present values are dampened by the: (w) special advantages you have in securing investment information. (x) lack of competition for information regarding profit opport

Q : Illustrate normative statement In

In economics illustrate normative statement?

Q : Price elasticity of demand DVDs of games

Moving from point c to point d beside demand curve D, the price elasticity of demand DVDs of video games equals: (1) 0.8. (2) one. (3) 1.10. (4) 1.25. (5) 2.50

Discover Q & A

Leading Solution Library

Avail More Than 1412996 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1944793
Asked

3,689

Active Tutors

1412996

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment