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| economic profit definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | total revenue minus total cost, including both explicit and implicit costs | 9 sets | |
| 2 | the difference between the money you obtain from selling a product and the cost of producing the product | 4 sets | |
| 3 | accounting profit that exceeds normal profit | 3 sets | |
| 4 | total revenue minus total cost, including both explicit and implicit costs - accounting profit minus the opportunity costs. | 2 sets | |
| 5 | accounting profit minus the cost of equity capital | 2 sets | |
| 6 | equals net earnings, in the accountant's sense, minus the opportunity costs of capital and of any other inputs supplied by the firm's owners | 2 sets | |
| 7 | total revenue - total cost- including both explicit and implicit costs | 2 sets | |
| 8 | a firm's revenues minus all of its costs, implicit and explicit | 2 sets | |
| 9 | considers explicit and implict costs | 1 set | |
| 10 | revenue minus the opportunity cost of resources; often less than accounting profit. | 1 set | |
| 11 | total revenue less economic costs (explicit and implicit, including normal profit when applicable). | 1 set | |
| 12 | added reward for entrepreneurs | 1 set | |
| 13 | =total revenue-economic cost | 1 set | |
| 14 | any profit above normal profit | 1 set | |
| 15 | explicit and implicit revenue minus explicit and implicit cost. | 1 set | |
| 16 | revenue minus explicit costs minus implicit costs | 1 set | |
| 17 | (price - average cost) x quantity produced | 1 set | |
| 18 | a firms total revenue less economic costs where economic cost = explicit + implicit costs and implict cost inculde a normal profit to the entrepreneur | 1 set | |
| 19 | tr-tc, including both explicit and implicit costs | 1 set | |
| 20 | total revenue less the economic costs (explicit and implicit costs) | 1 set | |
| 21 | total revenue minus opportunity cost | 1 set | |
| 22 | the difference between total revenue and total explicit costs and implicit costs | 1 set | |
| 23 | revenue minus opportunity cost | 1 set | |
| 24 | total revenue minus explicit and implicit costs. | 1 set | |
| 25 | (tr - tc), where "cost" refers to economic cost. | 1 set | |
| 26 | total revenue less economic costs | 1 set | |
| 27 | a firms total revenue minus total cost | 1 set | |
| 28 | revenue minus economic cost; less than business profit | 1 set | |
| 29 | total revenue - economic cost | 1 set | |
| 30 | total revenue minus total costs, above normal profit | 1 set | |
| 31 | profit in excess of a normal profit | 1 set | |
| 32 | pq-wl-vk | 1 set | |
| 33 | tr of a firm less its economic costs (includes explicit and implicit costs) | 1 set | |
| 34 | tr-tc-oc | 1 set | |
| 35 | (total revenue minus total cost) indicates that an industry is prosperous and promotes its expansion. | 1 set | |
| 36 | the sum that remains when both explicit and implicit costs are subtracted from total revenue | 1 set | |
| 37 | total revenue minus total cost including explicit and implicit costs | 1 set | |
| 38 | requires that accounting profit exceed implicit costs | 1 set | |
| 39 | difference between revenues and all explicit and implicit costs of production | 1 set | |
| 40 | the difference between the money you abotain from selling a product and the cost of producing the product | 1 set | |