Which of the following is included in the calculation of economic profit that is NOT included in the calculation of accounting profit?
A) total revenue
B) explicit cost
C) implicit cost
D) marginal cost
Correct Answer:
Verified
Q9: Each year, a bicycle repair shop receives
Q10: Last year, Reed's Financial Services received revenues
Q11: What is an implicit cost?
A) the cost
Q12: How is economic profit calculated?
A) Total revenue
Q13: Last year Reed's Financial Services received revenues
Q15: Which of the following statements about profit
Q16: A production function is a relationship that
Q17: Which of the following is used to
Q18: What best describes the long run?
A) a
Q19: What best describes the short run?
A) a
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