A firm earns economic profit when total profit exceeds

A Normal profit
B Implicit costs
C Explicit costs
D Variable costs

Correct Answer: Normal profit

A firm earns economic profit when total profit exceeds Normal profit. Economic profit is the profitability measurement that calculates the amount that revenues received from selling a product exceeds opportunity costs incurred from using resources to make and sell these products.
Bissoy MCQ
#Commerce #Economics

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There are five statements given below: i. karim earns more than Rahim but less than Raihan ii. Tarique earns more than Farid iii. Rahim earns more than Rariq iv. Raihan and Rarique earn equal amounts v. Farid earns the least amount which of the above statements prove that Tarique earns more money than Rafiq?
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The combined salary of X , Y and Z is Tk. 90,000. X earns twice of what z earns, and Y earns 1.5 times of what is the lowest salary of the three?
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The some of daily income of P, Q and R is TK.90. If Q earns TK.10 more than P and R earns double of what Q earns, then what is the average of daily income of P and Q?
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