Total Revenue Minus Both Explicit and Implicit Costs Defines a Firm's

question 70

Multiple Choice

Total revenue minus both explicit and implicit costs defines a firm's:

• A)gross earnings.
• B)profit.
• C)marginal earnings.
• D)net worth.

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Definitions:

Economic Opportunity

Circumstances that make it possible for individuals or businesses to thrive and prosper financially.

Evaluation

The process of assessing or judging the performance, effectiveness, or value of something.

Measure Progress

The process of evaluating the advancement or development of a project, student, or organization towards achieving specific goals.

Plan Objectives

Specific, measurable goals that an organization or project aims to achieve as part of its strategic or operational planning.