An economist's measurement of profit differs from an accountant's in that:
A) accountants calculate total revenue differently than do economists.
B) economists do not always include all of the opportunity costs when calculating total production costs.
C) accountants do not always include all of the opportunity costs when calculating total production costs.
D) economic profit generally exceeds accounting profit.

Question

Quizplus · Accepted Answer

Economists include opportunity costs in their calculation of total production costs, while accountants typically do not, leading to differences in profit measurement.

An Economist's Measurement of Profit Differs from an Accountant's in That