Which of the following is true of the relationship between accounting profit and economic profit?
A.Economic profit is less than accounting profit if implicit costs exist.
B.Economic profit is always equal to accounting profit.
C.Economic profit is greater than accounting profit if implicit costs exist.
D.Economic profit is less than accounting profit if implicit costs are zero.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is true of the relationship between accounting profit and economic profit?
A.Economic profit is less than accounting profit if implicit costs exist.
B.Economic profit is always equal to accounting profit.
C.Economic profit is greater than accounting profit if implicit costs exist.
D.Economic profit is less than accounting profit if implicit costs are zero.

Which of the Following Is True of the Relationship Between