Which of the following statements is true? Accounting profit is always positive. Economic profit is always positive. Economic profit is greater than or equal to accounting profit.Incorrect Accounting profit is greater than or equal to economic profit.
Which of the following statements is true? Accounting profit is always positive. Economic profit is always positive. Economic profit is greater than or equal to accounting profit.Incorrect Accounting profit is greater than or equal to economic profit.
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter9: Market Structure And Long-run Equilibrium
Section: Chapter Questions
Problem 1MC
Related questions
Question
Which of the following statements is true?
-
Accounting profit is always positive.
-
Economic profit is always positive.
-
Economic profit is greater than or equal to accounting profit.Incorrect
-
Accounting profit is greater than or equal to economic profit.
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