What is meant by economic profit?
Question:
What is meant by economic profit?
Profit:
Profit defines the monetary gain obtained when the income earned by the business operation is more than its expenditure. The sum of revenue left over after all the required and matched expenditures shall be subtracted for the year.
Answer and Explanation: 1
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View this answerThe economic profit is the gap between the gain from the selling of a product and the cost of all the products. Economic profit can be used for...
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Economic Profit | Definition, Formula & Calculation
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Chapter 3 / Lesson 11Learn what the definition of economic profit is, and understand how to calculate it using an equation.
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