If all of the firms in an industry are making positive economic profit, what does it mean for those firms? The firms' accounting profit < the firms' opportunity cost The firms' explicit cost > the firms' opportunity cost The firms' explicit cost > firms' opportunity cost The firms' accounting profit > the firms' opportunity cost
If all of the firms in an industry are making positive economic profit, what does it mean for those firms? The firms' accounting profit < the firms' opportunity cost The firms' explicit cost > the firms' opportunity cost The firms' explicit cost > firms' opportunity cost The firms' accounting profit > the firms' opportunity cost
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter5: Investment Decisions: Look Ahead And Reason Back
Section: Chapter Questions
Problem 5.7IP
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If all of the firms in an industry are making positive economic profit, what does it mean for those firms?
The firms' accounting profit < the firms'
The firms' explicit cost > the firms' opportunity cost
The firms' explicit cost > firms' opportunity cost
The firms' accounting profit > the firms' opportunity cost
I need ASAP
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