Q. If a firm's revenues just cover all its opportunity costs, then: (Solved)
1. Normal profit is zero.
2. Economic profit is zero.
3. Total revenues equal its explicit costs.
4. Total revenues equal its implicit costs.
- b. Economic profit is zero.
1. Normal profit is zero.
2. Economic profit is zero.
3. Total revenues equal its explicit costs.
4. Total revenues equal its implicit costs.