Accounting profits are total revenues minus
A) all relevant opportunity costs.
B) explicit and implicit costs.
C) explicit costs and all other relevant opportunity costs.
D) explicit costs.
D
Economics
You might also like to view...
If the bidders at a second-price auction have true values of $8, $7, $6, and $5, the item will sell for
a. $8 b. $7 c. just over $7 d. just under $7
Economics
Bob and Bill can make 16 toys each if they devote 8 working hours in a day. Further, Bob can repair 4 cars and Bill can repair 2 cars, if they devote 8 working hours in a day. What is the opportunity cost of repairing one car to Bob?
a. 10 toys b. 8 toys c. 16 toys d. 12 toys e. 4 toys
Economics