A firm earns a normal profit when its total revenues just offset both the ________ cost and ________ cost.
A. accounting; opportunity
B. accounting; replacement
C. historical; replacement
D. explicit; accounting
Answer:A
A firm earns a normal profit when its total revenues just offset both the ________ cost and ________ cost.
A. accounting; opportunity B. accounting; replacement C. historical; replacement D. explicit; accounting