If the ABC Typing Service is earning a rate of retur... - Solved MCQs & Answer

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If the ABC Typing Service is earning a rate of return greater than the return necessary for the business to continue operations, then?

Atotal costs exceed total revenue

Bnormal profit is zero

Cthe firm is earning are economic profit

Dtotal costs exceed normal profit

Correct answer

C. the firm is earning are economic profit

Explanation

The correct answer is the firm is earning are economic profit.

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