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Find the correct matching of the items of List – I with the items of List – II given below : (2 marks)
List – I List – II
(a) Normal Profit (I) Excess of total revenue over total explicit cost
(b) Economic profit (II) Total revenue equals total economic cost
(c) Accounting profit (III) Excess of total revenue over total of explicit and implicit costs and a normal rate of return
Codes :(I) (II) (III)
(c) (a) (b)
(b) (a) (c)
(a) (b) (c)
(a) (c) (b)
By: santosh ProfileResourcesReport error
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