What are the three basic sources of economic profits

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What are the three basic sources of economic profits? Classify the source of economic profit in each of the following:

a. A firm’s profits from developing and patenting a new medication that improves the quality of life for patients‘ suffering from Alzheimer’s.

b. A business’s profit that results from construction of a new highway past the storefront.

c. The profit received by a firm as a result of an unanticipated change in consumer tastes.

Reference no: EM131101332

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