Profit in Excess of Both Explicit and Implicit Costs Is

question 218

Multiple Choice

Profit in excess of both explicit and implicit costs is _____ profit.

• A) normal
• B) accounting
• C) economic
• D) zero economic

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Definitions:

Cooperation

The process of individuals or groups working together for a common purpose or benefit.

Conflict Management Style

The approach and techniques an individual or group uses to handle disagreements or disputes.

Intermediate Levels

Positions or stages that are between the initial and final stages in a process, system, or hierarchy.

Compromise

A conflict management style that combines intermediate levels of assertiveness and cooperation.