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would normal profit be considered profit or would you just consider your total expenses and revenue and just mind revenue and total expenses, i believe it is an accounting profit however it may be an economic profit that needs to be calculated since the question addresses a person who used to be a programmer earning a certain amount then started a business. The question does not specify if i need to calculate economic or accounting profit, i know you may not be able to give me much help but a little advice would be great.
How do you calculate profit?
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