Normal profit Group of answer choices Is the accounting profit earned when economic profits are greater than zero. Is an above-average rate of return. Is sufficient to induce entry into the industry Covers the full opportunity cost of the resources used by the firm. None of the Answers are Correct.

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05-07-2022
Business

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Normal profit Group of answer choices Is the accounting profit earned when economic profits are greater than zero. Is an above-average rate of return. Is sufficient to induce entry into the industry Covers the full opportunity cost of the resources used by the firm. None of the Answers are Correct.

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avanubha avanubha · Answer 1 · 2022-07-13T05:30:32-04:00

Normal Profit refers to the accounting profit earned when economic profit is greater than zero.

Normal Profit means the company makes sufficient revenue to cover the overall cost of production and maintain its competitiveness in the respective industry. Normal Profit helps the company to maintain its operation. It takes into account the implicit cost, explicit cost, and opportunity cost of the next business alternatives. The implicit costs include the cost of the factor of production while the explicit cost includes labor wage and raw material cost.

Reporting a Normal Profit by the company shows that the company gains a profit higher than the opportunity cost that it loses in using the resource to produce goods.

Learn more about the Normal Profit here: https://brainly.com/question/1078746

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