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Answer to Question #69560 in Microeconomics for shafaq

Question #69560
When accounting profit is zero what does it mean ?
none of the above
implicit cost is covered
explicit cost is not covered
implicit cost is not covered
Expert's answer
implicit cost is not covered
Accounting profit is the difference between the firm's total revenue and its explicit cost, implicit costs are not counted. It is necessary to have positive accounting profit to cover implicit costs.

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