What is a firm's normal profit and is it part of the firm's opportunity cost of production?
Normal profit is the ________. Normal profit ________ part of a firm's opportunity cost of production.

Question

What is a firm's normal profit and is it part of the firm's opportunity cost of production? 
 Normal profit is the ________. Normal profit ________ part of a firm's opportunity cost of production.

Answer

profit used by the Canada Revenue Agency to calculate tax owing; is

Answer

return that an entrepreneur can expect to receive on average; is

Answer

difference between total revenue and total cost; is

Answer

return that an entrepreneur can expect to receive on average; is not

Answer

profit used by the Canada Revenue Agency to calculate tax owing; is not

Crowdly

What is a firm's normal profit and is it part of the firm's opportunity cost of ...

Want instant access to all verified answers on moodle.uleth.ca?