If a business' total economic cost of producing 10,000 units of a product is N750,000
ECONOMICS
JAMB 2023
If a business' total economic cost of producing 10,000 units of a product is N750,000 and this output is sold to consumers for N1,000,000, then the firm would earn
- A. A normal profit of N750,000
- B. An economic profit of N750,000
- C. A normal profit o N1,750,000
- D. An economic profit of N250,000
Correct Answer: D. An economic profit of N250,000
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