Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter 52, Problem 3MCQ
To determine
Accounting profit
Expert Solution & Answer
Explanation of Solution
The definition of accounting profit refers to the accounting profit equals total revenue subtracting
Therefore, the correct option is a.
Economics Concept Introduction
Introduction:
The costs which are already occurred but are not shown or visible as a cost or expense are implicit costs.
The costs which are used to determine the profitability of the company and consider as tangible expenses are explicit costs.
Chapter 52 Solutions
Krugman's Economics For The Ap® Course
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