Which of the following statements is FALSE?
A) A correct measure of a firm's economic cost includes both accounting and opportunity cost.
B) The accounting profit earned by a firm will always be less than its economic profit.
C) The major difference between accounting and economic profit is that accounting profit does not reflect the opportunity cost of using resources.
D) The accounting profit of a firm is its total revenue minus total explicit costs.
B
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If investment spending increases by $1 million, then the aggregate demand curve shifts
A) rightward by less than $1 million. B) leftward by more than $1 million. C) rightward by more than $1 million. D) rightward by $1 million. E) leftward by less than $1 million.
If the economy were producing at its potential output, then the unemployment rate would be less than the target rate of unemployment.
Answer the following statement true (T) or false (F)
Approximately what percentage of the World Bank's loans go to developing nations in the East Asia/Pacific and South Asia regions combined?
A. 35% B. 5% C. 100% D. 70%
A firm will use land up to the point at which the MRP of land is equal to the price of land.
Answer the following statement true (T) or false (F)