D 10 0 1 15 If a company has zero implicit cost then O accounting profit will be less than economic profit. economic profit will be less than accounting profit. O economic and accounting profit cannot be calculated. accounting profit and economic profit will be the same. D When accounting profit is greater than economic profit we know that implicit cost must equal zero. implicit cost must be greater than zero. implicit cost must be less than zero. implicit cost must be unknown. D 10 2 3 19 If a company experiences an increase in total revenue then all else the same both accounting and economic profit will stay the same. O accounting profit will increase but economic profit will stay the same. both accounting and economic profit will increase. O economic profit will increase but accounting profit will stay the same. D 10 2 4 1 5) At 10% interest if a company borrows $1000 and uses $1000 from its saving to buy equipment then all else the same there is explicit costs of $100 and implicit costs of $100. O explicit costs of $200 and implicit costs of $0. explicit costs of $100 and implicit costs of $0. O explicit costs of $0 and implicit costs of $100. D 1 5) At 5% interest if a company borrows $20 then we know that all else the same explicit cost and implicit cost are both $0. explicit cost is $1. implicit cost is $1. explicit cost is $0.50 and implicit cost is $0.50