The difference between accounting profit and economic profit relates to a. the manner in which revenues...
The difference between accounting profit and economic profit relates to
a. the manner in which revenues are defined
b. how total revenue is calculated
c. the manner in which costs are defined
d. the price of the good in the market
Homework Answers
the manner in which the costs are defined differentiates the accounting and economic profit. Accounting profit takes into account the explicit costs only and economic profit takes the implicit cost as well. The answer is "C".
Add Answer to:
The difference between accounting profit and economic profit
relates to
a. the manner in which revenues...
The difference between economic profit and accounting profit is that economic profit is calculated based on...
The difference between economic profit and accounting profit is that economic profit is calculated based on both implicit and explicit costs whereas accounting profit is calculated based on explicit costs only. True False
Quesuu Cupcu BLUS. QUESTION 41 The marginal product of labor is equal to incremental costs associated...
Quesuu Cupcu BLUS. QUESTION 41 The marginal product of labor is equal to incremental costs associated with a one unit increase in labor incremental profit associated with a one unit increase in labor increases in labor necessary to generate a one-unit increase in output increases in output obtained from a one unit increase in labor QUESTION 42 The difference between accounting profit and economic profit relates to the manner in which revenues are defined how total revenue is calculated the...
Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced...
Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced total output divided by the change in total cost the slope of the total cost curve the slope of the line drawn from the origin to the total cost curve QUESTION 39 wa firm produces nothing which of the following costs will be zero? - total cost faxed cost opportunity cost variable cost QUESTION 40 A production function is a relationship between Inputs...
Which statement is true about economic profit: Select one: a. Generally large than accounting profit. b....
Which statement is true about economic profit: Select one: a. Generally large than accounting profit. b. Calculated by subtracting only implicit costs of using owner-supplied resources from the firm's total revenue. c. Negative when explicit costs exceed revenues. d. A theoretical measure of a firm's performance and has little value in real world decision-making.
What is the difference between accounting profit and economic profit? I was asked about how to...
What is the difference between accounting profit and economic profit? I was asked about how to interpret the notion of normal rate of return and the term opportunity cost? I have a pretty good idea about both but wanted to see and experts thought or interpretation.
Which of the following are true regarding profits, revenues, and costs? Choose one or more: A....
Which of the following are true regarding profits, revenues, and costs? Choose one or more: A. accounting profit - revenue - implicit costs B. total costs = implicit costs + explicit costs C. revenue = (price x quantity) - total costs D. proft = total revenue - total costs E. revenue = pricex quantity F. economic profit - revenue - implicit costs G. economic profit = accounting profit - implicit costs < 14/15 ASDFGH
this is micro economics Define Accounting Profit and Economic Profit What is the difference between Accounting...
this is micro economics
Define Accounting Profit and Economic Profit What is the difference between Accounting Profit and Economic Profit? Does a profitable have to earn a positive economic profit or can it still be profitable while earning a zero economic profit? Answer the above question and respond to at least two of your classmates' posts
Discuss the difference between not-for-profit and for-profit organizations and how this relates to the application of...
Discuss the difference between not-for-profit and for-profit organizations and how this relates to the application of accounting principles.
Economic profits are maximized at the point at which A. accounting profits are equal to zero....
Economic profits are maximized at the point at which A. accounting profits are equal to zero. B. total revenues are greater than total costs. C. marginal revenues equal marginal costs. D. accounting profit exceeds economic profit.
PLEASE HELP! What is the difference between economic profit and accounting profit? What is a normal...
PLEASE HELP!
What is the difference between economic profit and accounting profit? What is a normal rate of return and how does normal, less than normal, greater than normal inform resource allocation?
Quesuu Cupcu BLUS. QUESTION 41 The marginal product of labor is equal to incremental costs associated with a one unit increase in labor incremental profit associated with a one unit increase in labor increases in labor necessary to generate a one-unit increase in output increases in output obtained from a one unit increase in labor QUESTION 42 The difference between accounting profit and economic profit relates to the manner in which revenues are defined how total revenue is calculated the...
Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced total output divided by the change in total cost the slope of the total cost curve the slope of the line drawn from the origin to the total cost curve QUESTION 39 wa firm produces nothing which of the following costs will be zero? - total cost faxed cost opportunity cost variable cost QUESTION 40 A production function is a relationship between Inputs...
Which of the following are true regarding profits, revenues, and costs? Choose one or more: A. accounting profit - revenue - implicit costs B. total costs = implicit costs + explicit costs C. revenue = (price x quantity) - total costs D. proft = total revenue - total costs E. revenue = pricex quantity F. economic profit - revenue - implicit costs G. economic profit = accounting profit - implicit costs < 14/15 ASDFGH
this is micro economics
Define Accounting Profit and Economic Profit What is the difference between Accounting Profit and Economic Profit? Does a profitable have to earn a positive economic profit or can it still be profitable while earning a zero economic profit? Answer the above question and respond to at least two of your classmates' posts
PLEASE HELP!
What is the difference between economic profit and accounting profit? What is a normal rate of return and how does normal, less than normal, greater than normal inform resource allocation?
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