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Basic Question 2 of 8
In the economic theory of the firm, profit normally refers to ______.
B. normal profit
C. economic profit
A. accounting profit
B. normal profit
C. economic profit
User Contributed Comments 1
| User | Comment |
|---|---|
| Antoinepo | SInce normal profit occurs when economic profit is at 0, a profit ( higher then 0) means an economic profit. Remember : a NORMAL PROFIT = OPPORTUNITY COST (requiered roe) |
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Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.