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15) Economic profit equals total revenue minus A) the cost of resources bought in the market. B) the implicit rental rate. C) the cost of resources owned by the firm. D) the cost of resources supplied by the owner. E) the opportunity cost of production.
15) Economic profit equals total revenue minus A) the cost of resources bought in the market. B) the implicit rental rate. C) the cost of resources owned by the firm. D) the cost of resources supplied by the owner. E) the opportunity cost of production.
Verified Answer
Tod ThielLv2
10 Aug 2018
Jeffrey
JD Candidate at Stanford Law School5 May 2020
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