Multiple Choice
The formula for calculating accounting profit is total revenue minus _____ costs.
A) explicit financial
B) total
C) opportunity
D) explicit financial costs minus implicit opportunity
Correct Answer:
Verified
Correct Answer:
Verified
Q40: Emilia is a civil rights lawyer with
Q41: Average cost is:<br>A)the change in cost divided
Q42: In a long-run equilibrium, economic profits are:<br>A)positive.<br>B)zero.<br>C)negative.<br>D)indeterminate.
Q43: Alana operates a small hair salon in
Q44: Average cost equals:<br>A)price.<br>B)the cost of producing one
Q46: The two main types of implicit opportunity
Q47: Juan earns a yearly salary of
Q48: Which of the following government policies would
Q49: As output increases, fixed costs:<br>A)rise.<br>B)fall.<br>C)remain constant.<br>D)fall and
Q50: Maia is thinking of opening a restaurant.