profit- supernormal, normal and subnormal

Question 1

what is economic profit and what does it consider vs accounting profit

Answer 1

economic profit considers implicit and explicit costs (TR-TC)
accountants only consider expilcit

Question 2

different types of economic profits

Answer 2

-0: normal profit (minimum level of profit require to keep factors of production level in use) AR=AC
-positive: abnormal/supernormal AR>AC
-negative: subnormal AR<AC