Answered: Economic profit is:

Business

Economics

Economic profit is:

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 14E

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Question

Complete the sentences to illustrate how economists and accountants view profit differently.

Economic profit is:

A. typically lower than accounting profit.

B. always zero.

C. typically higher than accounting profit.

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