All Else Constant,as the Amount of a Firm's Implicit Costs

question 53

Multiple Choice

All else constant,as the amount of a firm's implicit costs increases,the difference between economic profit and accounting profit will:

• A)increase.
• B)stay the same.
• C)decrease.
• D)cannot be determined without more information.

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Definitions:

Prokaryotes

Organisms whose cells lack a nucleus and other membrane-bound organelles, including bacteria and archaea.

Lac Operon

A regulatory unit in the DNA of bacteria that controls the metabolism of lactose, consisting of genes coding for proteins involved in lactose processing and the regulatory elements controlling them.

Structural Genes

Genes that code for proteins which serve as building blocks for cells and tissues or take part in chemical reactions within the organism.

Regulatory Sequences

DNA sequences that are involved in controlling the expression of genes, determining when and where genes are turned on or off.