If There Are Implicit Costs of Production

question 28

Multiple Choice

If there are implicit costs of production,

• A) accounting profit will exceed economic profit.
• B) economic profit will always be zero.
• C) economic profit will exceed accounting profit.
• D) accounting profit will always be zero.
• E) economic profit and accounting profit will be equal

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Definitions:

A Virus

A microscopic infectious agent that replicates only inside the living cells of an organism and can cause diseases.

Bacteria

Microscopic, single-celled organisms found everywhere, with roles ranging from aiding digestion to causing disease.

A Fungus

A member of the group of eukaryotic organisms that includes microorganisms such as yeasts, molds, and mushrooms.

Apocrine Sweat Glands

Specialized sweat glands that typically open into hair follicles and are found in areas like the armpits and groin, secreting a more viscous sweat involved in thermoregulation and scent marking.