Implicit and Explicit Revenues Minus Implicit and Explicit Costs Equals

question 117

Multiple Choice

Implicit and explicit revenues minus implicit and explicit costs equals:

• A) accounting profit.
• B) economic profit.
• C) zero profit.
• D) implicit profit.

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Definitions:

HI

The chemical formula for hydrogen iodide, a diatomic molecule.

KOH

Potassium Hydroxide, a strong alkali used in various chemical processes and as a cleaning agent.

NaBr

Sodium bromide, a salt with various uses including in medicines, as a sedative, and in photographic processing.

React

To undergo a chemical change or transformation in response to another substance or condition.