If a Firm Has Implicit Costs as Well as Explicit

question 5

Multiple Choice

If a firm has implicit costs as well as explicit costs

• A)net income will always be less than accounting profit.
• B)accounting profit will be zero.
• C)net income will always be greater than accounting profit.
• D)economic profit will be less than accounting profit.

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Definitions:

Maximum Persuasion

The use of communication skills and techniques to their fullest extent to influence or convince others of a particular viewpoint, decision, or action.

Deductive Pattern

A logical process in which a conclusion is reached by applying a general principle or rule to specific instances or cases.

Good News

Information or announcements that are positive, uplifting, or beneficial to the receiver, often leading to a pleasant or optimistic reaction.

Bad-news Message

Communication that conveys disappointing, unfavorable, or negative information to the recipient.