Econ Micro (book Only)
Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 7, Problem 4P
To determine

To Determine: The reason for considering the normal profit as a type of cost to the firm.

Concept Introduction: 

Normal profit is the minimum return which is necessary to keep the firm running.

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