105. CSO: 2A4h LOS: 2A4h The concept of economic profit is best defined as total a. revenue minus all accounting costs. b. income minus the sum of total fixed and variable costs. c. revenue minus the sum of total fixed and variable costs. d. revenue minus all explicit and implicit costs.

2A4H THE CONCEPT OF ECONOMIC PROFIT IS BEST DEFINED AS TOTAL A. REVE...

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105.

CSO: 2A4h

LOS: 2A4h

The concept of economic profit is best defined as total

revenue minus all accounting costs.

income minus the sum of total fixed and variable costs.

revenue minus the sum of total fixed and variable costs.

revenue minus all explicit and implicit costs.