contestada

Economic profit is:_______.
a. always larger than accounting profit.
b. equal to the difference between accounting profit and implicit costs.
c. the sum of accounting profit and implicit costs.
d. equal to the difference between total revenue and implicit costs.

Respuesta :

Tundexi

Answer:

b. equal to the difference between accounting profit and implicit costs.

Explanation:

Economic profit is equal to the difference between accounting profit and implicit costs.

Accounting profit = Total Revenue- Explicit Cost

Economic profit = Accounting profit - Implicit cost

Economic profit will be less than or equal to the accounting profit.