Economic costs are..... larger than accounting costs by the amount of explicit costs. larger than accounting...

Question

Question

Economic costs are.....

larger than accounting costs by the amount of explicit costs.

larger than accounting costs by the amount of implicit costs.

smaller than accounting costs by the amount of implicit costs.

smaller than accounting costs by the amount of explicit costs.

Answer 1

Answer #1

Economic costs are Larger than accounting costs by amount of implicit costs

Because,

Since economic cost= implicit cost+ accounting cost

Answer 2

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