Normal Profit is a part of

🔑Key Points:
Total cost in economics includes normal profits.
The opportunity cost of working somewhere else is included in the implicit cost, which also includes normal profits.
The percentage of capital that a producer anticipates from his firm is known as normal profits.
Producer won't be able to survive in the business if he can't make reasonable profits.
When total cost and total income are equal, normal profits are made. 

🔴 Additional Information::
Implicit costs are any costs that have already occurred but aren't always shown or recorded as the separate items.
It is an opportunity cost that arises when the company commits internal resources to a project without obtaining any direct compensation for doing so.
This suggests that whenever a corporation allocates its resources, there is never a financial transaction because it always forgoes the opportunity to make money from using the resources in another way.