Calculate the economic profit for a firm if its total revenues are Rs 180 crores explicit costs are ...........

General Studies (CHSL) Indian Economy

Calculate the economic profit for a firm if its total revenues are Rs 180 crores, explicit costs are Rs 95 crores, and implicit costs are Rs 25 crores.

Rs.110 crores

Rs.300 crores

Rs.60 crores

Rs.250 crores

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Explanation:

An economic profit or loss is the difference between the revenue received from the sale of an output and the costs of all inputs used and any opportunity costs. In calculating economic profit, opportunity costs and explicit costs are deducted from revenues earned.