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- Define and explain the differences between accounting profit and economic profit.Distinguish between implicit and explicit costs. How is it possible to havepositive accounting profit and negative economic profit concurrently?Accounting profits are: A.) economic profit less explicit costs. B.) less than economic profits. C.) total revenue less implicit costs. D.) more than economic profits.
- Distinguish between implicit and explicit costs and give examples of each. In addition, explain how explicit and implicit costs affect the distinction between economic profit and accounting profit. What explains the distinction between the two measures of profit?(Alternative Measures of Profit) Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations: A firm with total revenues of $150 million, explicit cost of $90 million, and implicit costs of $40 million A firm with total revenues of $125 million, explicit cost of $100 million, and implicit costs of $30 million A firm with total revenues of $100 million, explicit cost of $90 million, and implicit costs of $20 million and A firm with total revenues of $250,000, explicit cost of $275,000, and implicit costs of $50,000 please i'd like to see the steps who we get the answers so i understand thank you so much :)please explain correctly.not use excel
- Modified True or False: State whether each statement is true or false. If the statement is false, briefly explain why it is so, and then restate it to make it true. Zero economic profit implies zero accounting profit.In programming the above model into Excel, you have to fill out a spreadsheet like the one below. 1: What formula do you enter into cell k.? a = $C$4*C8+$D$4*D8 b = $C$4*C9+$D$4*D9 c = $C$4*C10+$D$4*D10 d = $C$4*C7+$D$4*D7 2: What formula do you enter into cell l.? a = $C$4*C10+$D$4*D10 b = $C$4*C9+$D$4*D9 c = $C$4*C8+$D$4*D8 d = $C$4*C7+$D$4*D7 3: What formula do you enter into cell m.? a = $C$4*C8+$D$4*D8 b = $C$4*C10+$D$4*D10 c = $C$4*C9+$D$4*D9 d = $C$4*C7+$D$4*D7 4: What value do you enter into cell n.? a 18 b 32 c 20 d 6 5: What value do you enter into cell o.? a 6 b 20 c 18 d 32 6: What value…Microeconomic Chapter Eight Distinguish between a firm's explicit costs and its implicit costs and between a firm's accounting profit and its economic profit.
- make another own problem like the given example of net profit margin function use the photo provided as an example. make something like that but originalComplete all of the following definitionsA study of 86 savings and loan associations in six northwestern states yielded the following cost function. C� = 2.38 - 0.006153Q� + 0.000005359Q2�2 + 19.2X1�1 (2.86) (3.08) (3.68) (2.96) where C� = average operating expense ratio, expressed as a percentage and defined as total operating expense ($ million) divided by total assets ($ million) times 100 percent. Q� = output; measured by total assets ($ million) X1�1 = ratio of the number of branches to total assets ($ million) Note: The number in parentheses below each coefficient is its respective t-statistic. Which of the variable(s) is (are) statistically significant in explaining variations in the average operating expense ratio? (Hint: t0.025,70=1.99�0.025,70=1.99.) Check all that apply. Q� Q2�2 X1�1 What type of average cost-output relationship is suggested by these statistical results? Quadratic Cubic Linear Based on these results, what can we…