When resources owned or otherwise employed by the firm generate economic rents, the firm earns [...]as a result because total revenues exceed the sum of explicit and implicit costs.
When resources owned or otherwise employed by the firm generate economic rents, the firm earns [...]as a result because total revenues exceed the sum of explicit and implicit costs.
When resources owned or otherwise employed by the firm generate economic rents, the firm earns [...]as a result because total revenues exceed the sum of explicit and implicit costs.
Answer
economic profits
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Parent (intermediate) annotation
Open it When resources owned or otherwise employed by the firm generate economic rents, the firm earns economic profits as a result because total revenues exceed the sum of explicit and implicit costs.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p63
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