Which of the following statements is true? Group of answer choices Economic profits include opportunity costs....
Which of the following statements is true?
Group of answer choices
Economic profits include opportunity costs.
Economic profits ignore opportunity costs.
Accounting profits include all of the opportunity costs.
Economists consider sunk costs in their decision making
Homework Answers
Answer : The answer is option A.
Implicit cost show the opportunity cost. Accounting profit only include explicit cost. But economic profit include implicit cost and explicit cost both. As economic profit include implicit cost and implicit cost show the opportunity cost, hence opportunity cost is included on economic profit. Therefore, option A is correct.
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