A.    This is the correct definition of the concept of economic profit. Economic profit is calculated as follows: Revenue - Explicit Costs - Implicit Costs = Economic Profit

B.    Economic profit is calculated as follows: venue - Explicit Costs - Implicit Costs = Economic Profit Accounting costs include only explicit costs.

C.    Economic profit is calculated as follows: Revenue - Explicit Costs - Implicit Costs = Economic ProfitFixed and variable costs do not include all of the implicit costs that need to be included in Economic profit.

D.    Economic profit is calculated as follows: Revenue - Explicit Costs - Implicit Costs = Economic Profit Fixed and variable costs do not include all of the implicit costs that need to be included in Economic profit.