Total revenue minus only explicit costs is called
A)accounting profit.
B)economic profit.
C)average total cost.
D)implicit profit.

Question

Quizplus · Accepted Answer

Total revenue minus only explicit costs is called accounting profit. Economic profit would also subtract implicit costs, such as the opportunity cost of utilizing resources in a particular venture. Average total cost is the total cost divided by output, and implicit profit is not a commonly used economic concept.

Total Revenue Minus Only Explicit Costs Is Called