In comparing accounting profit with economic profit, we generally find that
A) accounting profit is less than economic profit.
B) economic profit and accounting profit are the same in the short run.
C) accounting profit is greater than or equal to economic profit.
D) economic profit exceeds accounting profit by the amount of opportunity costs.
Correct Answer:
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Q136: Economic profits equal
A) accounting profits.
B) accounting profits
Q141: If your business earns $10,000 in revenues,
Q141: A basic tenet of the theory of
Q143: Economic profit is always
A) greater than accounting
Q148: The economy's current rate of interest is
Q153: The most commonly accepted objective for a
Q154: A business organization that employs resources to
Q155: Economic profits are
A) the same as accounting
Q156: The goal of the firm is
A) low
Q158: Economists assume that the goal of a
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