If a firm’s revenues just cover all its opportunity costs, then:

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Question:

If a firm’s revenues just cover all its opportunity costs, then:

A.

Normal profit is zero.

B.

Economic profit is zero.

C.

Total revenues equal its explicit costs.

D.

Total revenues equal its implicit costs.

Answer» b. Economic profit is zero.

Note: The above multiple-choice question is for all general and Competitive Exams in India.