Question
In order to make an either-or decision, the decision-maker should: a. Compare economic profit with zero, choose alternative if profit greater than zero b. Compare
In order to make an "either-or" decision, the decision-maker should: a. Compare economic profit with zero, choose alternative if profit greater than zero b. Compare accounting and economic profits, choose alternative with smallest difference between economic and accounting profits c. Compare accounting and economic profits, choose alternative if economic profit smaller than accounting profit d. Compare explicit costs of both options, choose alternative with lower costs e. Compare implicit costs of both options, choose alternative with lower costs
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