Economics

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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.

  • Economics -

    zero economic profit?

  • Economics -

    What is the lowest value of economic profit that the firm must earn if it is to keep its resources in the current industry?

  • Economics -

    Economic profit equal to 10% of the cost of capital plus labor

  • Economics -

    Economic profit that is less than zero

  • Economics -

    Economic profit equal to explicit costs of production

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