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Question 4 (Mandatory) (1 point) Economic costs are equal to the direct costs of hiring all factors of production. C are the opportunity cost of

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Question 4 (Mandatory) (1 point) Economic costs are equal to the direct costs of hiring all factors of production. C are the opportunity cost of each factor of production minus any interest ch paid on borrowed funds. are equal to total revenue minus accounting profit. include both a normal rate of return on investment and the opportunity cos each factor of production. Question 5 (Mandatory) (1 point) Economic profit is OTR - TVC. TR - TC. TR - TFC. O TVC - TFC

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