Which of the following would not be included in the calculation of accounting profits?
A) Wages of workers.
B) The salary the owner could have earned working elsewhere.
C) Rent.
D) Medical insurance coverage for workers.
Correct Answer:
Verified
Q1: Explicit costs:
A)are the only costs that matter
Q3: It is always true that:
A)accounting profits are
Q4: Chris was the business manager for a
Q5: The economic theory of business behavior assumes
Q6: Adam Smith coined the term "invisible hand"
Q7: Normal profits occur when:
A)accounting profits are positive.
B)economic
Q8: Economic profits are:
A)the same as accounting profits.
B)equal
Q9: If you were to start your own
Q10: Curly told Larry about his new business
Q11: Explicit costs:
A)measure the opportunity costs of the
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