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Tags
#costs #finance #investopedia
Question
Economic profit is used extensively to determine whether a business should [...]
Answer
enter or exit a market or industry.

Tags
#costs #finance #investopedia
Question
Economic profit is used extensively to determine whether a business should [...]
Answer
?

Tags
#costs #finance #investopedia
Question
Economic profit is used extensively to determine whether a business should [...]
Answer
enter or exit a market or industry.
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Economic profit is used extensively to determine whether a business should enter or exit a market or industry.

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Explicit Cost Definition | Investopedia
actually purchased. An implicit cost is the greatest benefit that could have resulted from the use of the funds. This cost could reflect a different vehicle that could have been purchased or the benefit gained from using the funds elsewhere. <span>Economic Profit Explicit costs are also utilized in the calculation of economic profit. Economic profit is the total return a company receives based on all costs incurred to attain that revenue. These costs include all explicit and implicit costs. Economic profit is utilized for long-term decision-making. Economic profit is used extensively to determine whether a business should enter or exit a market or industry.

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