Which shoud be taken in to account for calculating the ecomic profit of a firm?
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Hello dear ❤
Here's the answer ⤵
Economic profit can be both positive and negative and is calculated as follows:
▫Total Revenues - (Explicit Costs + Implicit Costs) = Economic Profit.
▫Accounting Profit - Implicit Costs = Economic Profit.
Hope it helps ☺
Here's the answer ⤵
Economic profit can be both positive and negative and is calculated as follows:
▫Total Revenues - (Explicit Costs + Implicit Costs) = Economic Profit.
▫Accounting Profit - Implicit Costs = Economic Profit.
Hope it helps ☺
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