If a firm had negative economic profits (i.e., economic losses), but did make an accounting profit, we may conclude that
A. explicit costs are negative.
B. implicit costs are zero.
C. implicit costs are positive.
D. implicit costs are greater than explicit costs.
C. implicit costs are positive.
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For investors, commercial paper is a close substitute for
A) U.S. Treasury bills. B) U.S. Treasury bonds. C) corporate bonds. D) municipal bonds.
No monetary value can be placed on a human life
Indicate whether the statement is true or false
When a tax is imposed and some of the lost surplus becomes tax revenues, the group that benefits is:
A. consumers. B. producers. C. recipients of government services. D. Only the government benefits from that lost surplus.
Expansionary monetary policy causes the exchange rate to depreciate.
Answer the following statement true (T) or false (F)