Question: Economic profits are a . earnings based on the normal competitive payments to the factors used in production. b . wages paid to the factors

Economic profits are
a. earnings based on the normal competitive payments to the factors used in production.
b. wages paid to the factors used in production.
c. equal to net income.
d. earnings based on the noncompetitive payments to the factors used in production.
e. None of these answers is correct.
Economic profits are a. earnings based on the normal competitive payments

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