There is a paradox that water has a high marginal utility, yet we value it little, while diamonds have a low marginal utility, while we value them highly

Eisenhower's conservative policies were characterized by budget surpluses that produced further declines in price levels

Indicate whether the statement is true or false

Which type of profit takes into consideration both implicit and explicit costs?

a. economic profit b. accounting profit c. normal profit d. both A and C consider implicit and explicit costs