Question: Problem set 1.17 Is it possible for a firm to simultaneously earn above normal economic returns and below average accounting returns? What about below normal

Problem set 1.17 Is it possible for a firm to simultaneously earn above normal economic returns and below average accounting returns? What about below normal economic returns and above average accounting returns? Why or why not? If this can occur, which measure of performance is more reliable: economic performance or accounting performance? Explain.

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