Accounting profit is equal to
A) marginal revenue minus marginal cost.
B) total revenue minus the explicit cost of producing goods and services.
C) total revenue minus the opportunity cost of producing goods and services.
D) average revenue minus the average cost of producing the last unit of a good or service.
Correct Answer:
Verified
Q155: A difference between explicit and implicit costs
Q517: Jacqui decides to open her own business
Q518: An example of an explicit cost of
Q519: Pete owns a shoe-shine business. Which of
Q520: Explicit costs
A)do not require an outlay of
Q522: Total revenue minus both explicit and implicit
Q523: Tom quit his $65,000 a year corporate
Q524: Scenario 13-1
Korie wants to start her own
Q525: Scenario 13-1
Korie wants to start her own
Q526: Total revenue minus only implicit costs is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents