Economic profits are calculated after taking into account:
A) explicit costs but not implicit costs.
B) implicit costs but not explicit costs.
C) both implicit and explicit costs.
D) only sunk costs.
E) only external costs.
Correct Answer:
Verified
Q22: Rachel bought a sandwich maker. The shopkeeper
Q23: Lintell Inc. earned a total revenue of
Q24: Which of the following observations is true?
A)Sunk
Q25: Which of the following is not an
Q26: When economic profits in an industry are
Q28: An explicit cost is:
A)an opportunity cost for
Q29: An example of an implicit cost of
Q30: David was taken to a concert by
Q31: An implicit cost is:
A)an opportunity cost to
Q32: Lintell Inc. earned a total revenue of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents