1) Explain why economic profit provides a better
measure of profit than accounting profit.
2) Explain what occurs when a new technology makes
another one obsolete in terms of economic profit.
Consider firm A to be an existing firm using the old
technology. Firm B is the new firm with the new
technology. Firm A earned positive profits for
years, but with the entrance of Firm B, Firm A’s
goods and services are no longer desired.
3) It is often stated that free cash flow is the same as
economic profit. Define free cash flow.
Demonstrate whether it is or is not the same as
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