passwella.
Menu

WAEC Economics 2007 Question 21

Question 21

Theory of Costs and Revenue

The return on investment that is just sufficient to satisfy the owner of a business is called

  1. A.economic profit
  2. B.business profit
  3. C.normal profit
  4. D.excess profit.
Show the answer and explanation

Answer: C (normal profit)

Explanation

Normal profit is the minimum profit that keeps the owner in the business.