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.
Answer: D
Economics
You might also like to view...
The existence of discouraged workers will lead to an official unemployment rate that is
A) overstated. B) understated. C) either overstated or understated. D) unbiased.
Economics
At an interest rate of 5 percent, the present value of $1,000 to be received three years from today is
A) less than $875. B) between $875 and $925. C) between $925 and $975. D) more than $975.
Economics