Total Profit = Total Revenue − Total Cost (Including Opportunity

question 84

Multiple Choice

Total profit = Total revenue − Total cost (including opportunity cost) . Total profit defined in this way is called

• A)accounting profit.
• B)economic profit.
• C)absolute profit.
• D)relative profit.

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Definitions:

Weick

Karl E. Weick, an American organizational theorist known for his contributions to the understanding of organizational behavior and sensemaking.

Rules

Explicit or understood regulations or principles governing conduct within a particular activity or sphere.

Equifinality

A principle that states in complex systems, a given end state can be reached by many potential means or from different initial conditions.

Multifinality

A principle in psychology that suggests the same beginnings can lead to multiple outcomes, highlighting how varied end states can arise from the same initial condition.