Part of total cost
Total revenue minus total cost
Total revenue minus explicit cost
Total variable cost minus total fixed cost
✅ The correct answer is B.
Economic profit is Total revenue minus total cost. Economic profit is the monetary costs and opportunity costs a firm pays and the revenue a firm receives. Economic profit = total revenue – (explicit costs + implicit costs).
Economic profit is Total revenue minus total cost. Economic profit is the monetary costs and opportunity costs a firm pays and the revenue a firm receives. Economic profit = total revenue – (explicit costs + implicit costs).