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Basic Question 7 of 8
Economic profit equals ______.
B. total revenue plus normal profit
C. total revenue minus total explicit costs minus total implicit costs
A. total revenue minus total explicit costs
B. total revenue plus normal profit
C. total revenue minus total explicit costs minus total implicit costs
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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® 2025 Level I Curriculum, Volume 1, Module 1.