Question

Difference between normal profit and super normal profit in the short language

Answer 1

Answer:

Normal profit is a profit metric that takes into account both explicit and implicit costs.

Gross Income - (Explicit Cost + Opportunity Cost)

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A super normal profit is a profit in excess of the minimum return required to keep a firm in business.

Total Revenue - Total Expenses

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Answer 2

Normal profit and super normal profit

Explanation:

• A business makes a normal profit when it generates enough income to cover its costs.
• Super normal profit occurs when a company earns more money than it spends on expenses.
• A business has sustained a loss if it receives less income than it spends on expenses.
• Super-normal profit is what a company makes when it earns more than regular profit.
• When total income exceeds entire costs, super - normal profit, also known as economic profit or abnormal profit, is earned.

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