Which of the Following Statements Is False

question 24

Multiple Choice

Which of the following statements is false?

• A)Economic costs include the opportunity costs of the resources owned by the firm.
• B)Accounting costs typically include only explicit costs.
• C)Economic profit will always be less than accounting profit if resources owned and used by the firm have any opportunity costs.
• D)Accounting profit is equal to total revenue minus implicit costs.

---

Definitions:

Language Abilities

The capacity to understand, produce, and use complex systems of communication, particularly human language.

Toddlers

Young children, typically aged between one and three years old, who are just beginning to walk and talk.

Fast Mapping

The process by which children are able to learn the meaning of a new word after only a brief encounter.

Gene Expression

The process by which the information encoded in a gene is used to direct the assembly of a protein molecule.