Economic profit equals accounting profit minus
A) explicit costs.
B) implicit costs.
C) fixed costs.
D) variable costs.
B
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In terms of investing, what is suggested by the random walk theory?
a. Future stock prices cannot be predicted. b. Stocks are a safer investment than bonds. c. Long-term investments are risky but necessary. d. Wealthy people are prepared to handle stock risks.
The poor are those who fall too far behind the average income. This refers to the ____ definition of poverty
a. marginal b. absolute c. relative d. threshold
The AFC curve is curve
A. W.
B. X.
C. Y.
D. Z.
A price discriminating pure monopolist will attempt to charge each buyer (or group of buyers):
A. different prices to compensate for differences in the characteristics of the product.
B. the same price if per unit cost is constant for each unit of the product.
C. that price that equals the buyer's marginal cost.
D. the maximum price each would be willing to pay.