The difference between accounting profit and economic profit relates to
a. the manner in which revenues are defined
b. how total revenue is calculated
c. the market structure for the firm's industry
d. the price of the good in the market
e. the manner in which costs are defined
E
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Which of the following is the largest asset on a consolidated balance sheet for a commercial bank?
a. Checkable deposits b. government bonds c. Cash assets, including reserves d. Loans e. Borrowing from the Federal Reserve
_____ and _____ are examples of complementary products
a. Coke; Pepsi b. Coffee; tea c. Hot dogs; hot dog buns d. Pens; pencils
Between 1980 and 2000, income per person in India
A) doubled. B) tripled. C) quadrupled. D) decreased by 25 percent.
Assume that a consumer has a given budget or income of $12, and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. Refer to the information given above. If the consumer decides to buy 4
apples, how many bananas can she also buy with the remainder of her budget? A. 8 bananas B. 4 bananas C. 6 bananas D. 10 bananas