What represents economic profits gemerated by bussiness above and beyond min return required by all providers of capital?
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Answer:
Through capital
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In a business economic profit is represented by opportunity cost and monetary cost.
Explanation:
- In the calculation of economic profit in a business both explicit cost and opportunity are reduced from the revenue that is earned.
- Through economic profit a business has an opportunity to select the most and best profitable actions which are above minimum return.
- Additionally, with economic profit the business can also measure its efficiency specifically in the resource allocation.
- It also determines if the company is doing well with the decisions that are made.
To learn more
Distinguish between business profit and economic profit
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Difference between accounting profit and economic profit in a business
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