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7.1 Explicit and implicit costs, and accounting and economic profit  (Page 9/15)

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  • Card 9 / 15:
    economic profit

    total revenues minus total costs (explicit plus implicit costs)

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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