In determining a firm's costs, accountants include _____ costs, and economists include _____ costs.
A) implicit; no implicit
B) implicit; no explicit
C) implicit and explicit; no implicit
D) explicit; implicit and explicit
Correct Answer:
Verified
Q8: _ costs do not involve the payment
Q9: _ profit is total revenue less economic
Q10: _ profit is total revenue minus implicit
Q11: Economists include _ in calculating economic profit.
A)
Q12: Accountants include _ in calculating accounting profit.
A)
Q14: When Flora quits her job earning $85,000
Q15: Gerald, a certified public accountant, informs his
Q16: Gerald, a certified public accountant, informs his
Q17: Gerald, a certified public accountant, informs his
Q18: A negative economic profit is referred to
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