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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.4
When a firm earns an accounting profit but an economic loss, it suggests?
The firm has low explicit costs
The firm has high implicit costs
The firm is not covering its opportunity costs
The firm is experiencing normal profit
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AP Microeconomics - 3.4 Types of Profit
Key terms
Accounting Profit
Economic Loss
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About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
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Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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