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Economic profit includes which type of cost that is not directly incurred by the organization?
  • a)
    Explicit cost.
  • b)
    Implicit cost.
  • c)
    Normal profit.
  • d)
    Accounting profit.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Economic profit includes which type of cost that is not directly incur...
Economic profit includes implicit costs, which are costs not directly incurred but represent the opportunity cost of resources used.
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