Economic profit equals accounting profit minus:

a. explicit costs.
b. implicit costs.
c. fixed costs.
d. variable costs.

b

Economics

You might also like to view...

If the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP more than potential GDP, there is

A) a below-full employment equilibrium. B) a rising real GDP. C) a falling price level. D) an inflationary ga

Economics

The rightward shift of the RS curve will lead to a ________ in the U.S. exchange rate, ________ in real GDP, and a ________ in the price level

A) rise; a decrease; fall B) rise; an increase; rise C) fall; an increase; rise D) rise; an increase; fall E) fall; an increase; fall The figure above shows the market for loanable funds. The supply of loanable funds curve shifts rightward.

Economics