Which of the Following Expressions Is Correct

question 496

Multiple Choice

Which of the following expressions is correct?

• A)accounting profit = total revenue - explicit costs
• B)economic profit = total revenue - implicit costs
• C)economic profit = total revenue - explicit costs
• D)Both a and b are correct.

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Definitions:

Stock Performance

A measure of how the shares of a particular company have traded in the stock market, often reflecting the company’s financial health.

Productivity

The efficiency at which goods or services are produced, typically measured by the output per unit of input.

Labor Unions

Organizations formed by workers to collectively bargain with employers for better wages, working conditions, and benefits, and to protect their rights and interests.

Members' Interests

The concerns, priorities, and objectives that are important to the members of a group or organization.