Which of the following equations is correct?
A) accounting profit = total revenue - (explicit costs + implicit costs)
B) normal profit = accounting profit + economic profit
C) economic profit = accounting profit - implicit costs
D) economic profit = accounting profit - explicit costs
Correct Answer:
Verified
Q224: Which of the following is the formula
Q228: Which of the following statements regarding accounting
Q233: Suppose that during a given time period
Q234: If the interest rate is 10 percent
Q235: Joanne left her last job, in which
Q236: In economics we assume that the goal
Q240: Joanne left her last job, in which
Q245: An advantage of the partnership form of
Q253: The three basic legal forms of business
Q255: In a partnership of two people
A) each
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