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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 16
Which of the following equalities is true ?
A) Economic profit = total revenue ? accounting profit.
B) Economic profit = total revenue ? explicit costs ? accounting profit.
C) Economic profit = total revenue - implicit costs ? explicit costs.
D) Economic profit = opportunity costs + accounting costs.
A) Economic profit = total revenue ? accounting profit.
B) Economic profit = total revenue ? explicit costs ? accounting profit.
C) Economic profit = total revenue - implicit costs ? explicit costs.
D) Economic profit = opportunity costs + accounting costs.
Explanation
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1. The difference of total opportunity c...
Economics for Today 9th Edition by Irvin Tucker
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