Accounting costs and economic costs differ because
A) Accounting costs exceed economic costs whenever any factor is not paid an explicit wage.
B) Accounting costs include implicit costs,and economic costs do not.
C) Economic costs include the opportunity costs of all resources used,while accounting costs include actual dollar outlays.
D) Accounting costs include explicit costs,and economic costs do not.
Correct Answer:
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Q12: Table 22.1 Q13: The profit motive can encourage businesses to Q14: Profit Q15: Economists assume the principal motivation of producers Q16: Which of the following is the best Q18: Which of the following should not be
A)Is the difference between total revenue and
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