Economists Include _____ in Calculating Economic Profit

question 101

Multiple Choice

Economists include _____ in calculating economic profit.

• A) only implicit costs
• B) only explicit costs
• C) both implicit and explicit costs
• D) neither implicit nor explicit costs

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Definitions:

Demise

The end of existence or death.

Lounge

A public room in a hotel, airport, theater, or club, where people can sit, relax, and socialize.

Suspicious Circumstances

Situations or conditions that suggest something unusual, potentially dangerous, or illicit might be happening or has occurred.

Correctional Facility

A place where individuals are held as part of their punishment for committing crimes, such as a prison or jail.