4. Economic profit is defined as
a.price minus the sum of average fixed and marginal cost
b.total revenue minus total implicit cost
c.total revenue minus the average total cost
d.total revenue minus the sum of implicit and explicit costs
4. Economic profit is defined as
a.price minus the sum of average fixed and marginal cost
b.total revenue minus total implicit cost
c.total revenue minus the average total cost
d.total revenue minus the sum of implicit and explicit costs