Economic profit is:
a. less than accounting profit if implicit costs exist.
b. always equal to accounting profit.
c. greater than accounting profit if implicit costs exist.
d. less than accounting profit if implicit costs are zero.

Economic profit = total revenue – ( explicit costs + implicit costs). Accounting profit = total revenue – explicit costs. Economic profit can be positive, negative, or zero. ... In the long run, economic profit must be zero, which is also known as normal profit.

if it is for a job, then you should learn everything you can about the job, like what does it involve, what qualification is required and how you are the right person for that job. dress appropriately for the interview. get plenty of rest the night before. good luck!

answer; /// blank(1); increases; blank(2); decreases;