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Author Question: Normal profit is defined as a. accounting profit b. economic profit c. profit necessary to ensure ... (Read 123 times)

karateprodigy

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on: Jun 30, 2018
Normal profit is defined as
 a. accounting profit
  b. economic profit
  c. profit necessary to ensure that opportunity costs are covered
  d. accounting profit minus economic profit
  e. economic profit minus accounting profit

Question 2

Suppose Ben buys out Jerry's ownership in the firm but retains him as a salaried employee. If so,
 a. economic profit increases
  b. economic profit decreases
  c. there is no change in economic profit
  d. there is no change in accounting profit
  e. accounting profit increases


brittrenee

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

C


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karateprodigy

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Reply #2 on: Jun 30, 2018
Thank you :)


brittrenee

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Reply #3 on: Jun 30, 2018
Happy to help you


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