In the 1990s, Japan experienced ______.

If a firm has implicit costs as well as explicit costs

A) accounting profit will be zero. B) net income will always be greater than accounting profit. C) net income will always be less than accounting profit. D) economic profit will be less than accounting profit.

If the marginal benefits are greater than the marginal cost of an activity, then society is overallocating resources to this activity.

Answer the following statement true (T) or false (F)