Concept of Economic Profit

Here are the instructions:

Review the narrated lecture on Business and the Cost of Production http://lectures.mhhe.com/narrated_slides/0078021758/chapter09/presentation_html5.html

Review the concept of Economic Profit in the textbook (picture of the section attached)

Review the Khan Videos

https://www.khanacademy.org/economics-finance-domain/microeconomics/firm-economic-profit/economic-profit-tutorial/v/economic-profit-vs-accounting-profit

http://www.khanacademy.org/finance-economics/microeconomics/v/depreciation-and-opportunity-cost-of-capital

http://www.khanacademy.org/finance-economics/microeconomics/v/fixed–variable–and-marginal-cost