5. If there are implicit costs of production, a. economic profit will exceed accounting profit. b. accounting

Question:

5. If there are implicit costs of production,

a. economic profit will exceed accounting profit.

b. accounting profit will exceed economic profit.

c. economic profit and accounting profit will be equal.

d. economic profit will always be zero.

e. accounting profit will always be zero.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

See More Books

Question Posted: Nov 15, 2024 03:00 AM

See More Questions

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...
just i need the answer a or b or c or d 1. Accounting profit is equal to total revenue minus a. implicit costs. b. explicit costs. c. the sum of implicit and explicit costs. d. marginal costs. e....
Please answer these questions Question 1 Economists assume the principal motivation of producers is: Psychological gratification. Social status. Profit. Their preference for being "their own person."...
A stock is currently priced at $39.3. Its dividend is expected to grow at a rate of 5.9% per year indefinitely. The stock's required return is 8.4%. The stock's predicted price 7 years from now, P7,...
What is the difference between technology infusion and technology diffusion?
Block A with weight 3w, slides down an inclined plane S of slope angle 36.9° at a constant speed while plank B, with weight w, rests on top of A. The plank is attached by a cord to the wall (Fig....
5. If there are implicit costs of production, a. economic profit will exceed accounting profit. b. accounting profit will exceed economic profit. c. economic profit and accounting profit will be...
For many years the financial and accounting community has recognized the importance of the use of audit committees and has endorsed their formation. By now the use of audit committees has become...
What would the Internal Audit Function have to be, for the Internal Audit Profession to be able to meet future challenges and client expectations in North America? , internal audit technique,...
4. The economic profit at Madelyn's pottery factory is a. $30,000. b. $35,000. c. $70,000. d. $75,000. e. $80,000.
6. If a production function exhibits diminishing marginal product, its slope 3. becomes flatter as the quantity of the input increases. b. becomes steeper as the quantity of the input increases. c....
Appreciate the nature of theory as an academic practice
Golden Leaves Company has two support departments, Maintenance Department (MD) and Personnel Department (PD), and two producing departments, P1 and P2. The Maintenance Department costs of $30,000 are...
Please write a perl script, searchtwo.pl, that will search a given data file for a given pattern . Both the search pattern and the search file name should be obtained from the prompted inputs $...
Last year Tiemann Technologies reported $10,500 of sales, $6,250 of operating costs other than depreciation, and $1,300 of depreciation. The company had no amortization charges, it had $5,000 of...
Expando, Inc., is considering the possibility of building an additional factory that would produce a new addition to its product line. The company is currently considering two options. The first is a...
The Rubber Duck Brewing Company is a new microbrewery. Rubber Duck's brewing process converts beer raw ingredients-malt extract, malted grain, adjuncts (rice or corn), hops, yeast, and water-into...
In a dairy plant, milk at 4C is pasteurized continuously at 72C at a rate of 12 L/s for 24 h/day and 365 days/yr. The milk is heated to the pasteurizing temperature by hot water heated in a natural...
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....

5. If there are implicit costs of production, a. economic profit will exceed accounting profit. b. accounting

Question:

Step by Step Answer:

Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

Students also viewed these Business questions