Normal Profits Occur When

question 43

Multiple Choice

Normal profits occur when:

• A)accounting profits are positive.
• B)economic profits are positive.
• C)economic profits are zero.
• D)total revenues are greater than explicit and implicit costs.

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Definitions:

Verbal Pauses

Breaks in speech that are often used to gather thoughts or to emphasize a point.

Personal Information

Data relating to an individual, including details such as name, address, and contact information, that can be used to identify them.

Position

A standpoint or perspective adopted by an individual or group, often influenced by opinions or beliefs on a particular issue.

Organization

The arrangement or structure of interrelated elements in a system or entity.