How is accounting profit calculated?
What will be an ideal response?
Accounting profit equals total revenues minus explicit costs.
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If the Fed decides to buy bonds, the result will be
A) lower bond prices and higher interest rates. B) higher bond prices and higher interest rates. C) higher bond prices and lower interest rates. D) lower bond prices and lower interest rates.
When you make the decision to spend your time attending class, which economic question are you answering?
A) Why? B) What? C) How? D) Is this in the social interest? E) For whom?
In the figure above, at the point where the price is $60 per bunch, the price elasticity of supply is
A) 1.8 B) 0.56 C) 1 D) 1.5 E) 0
Total revenue minus only explicit costs is called
a. accounting profit. b. economic profit. c. average total cost. d. implicit profit.