Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following formulas is not correct? Marginal revenue =marginal cost at the point of profit mximization. Economic profit -accounting profit =explicit costs. Economic

Which of the following formulas is not correct?

Marginal revenue =marginal cost at the point of profit mximization.

Economic profit -accounting profit =explicit costs.

Economic profit =accounting profit -implicit costs.

Economic profit +accounting profits =implicit costs.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Excel For Principles Of Econometrics

Authors: R Carter Hill, Genevieve Briand

4th Edition

1118032101, 9781118032107

More Books

Students also viewed these Economics questions