- CFA Exams
- CFA Exam: Level I 2021
- Study Session 4. Economics (1)
- Reading 12. Topics in Demand and Supply Analysis
- Subject 5. Economic Cost vs. Accounting Cost
CFA Practice Question
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
Correct Answer: C
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