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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.4
A firm's economic profit is negative when?
Implicit costs exceed explicit costs
Marginal revenue is greater than marginal cost
Total revenue is greater than total costs
Total revenue is less than explicit costs
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AP Microeconomics - 3.4 Types of Profit
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Economic profit
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About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
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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