Economic Profit Is Equal to the Difference Between

question 36

Multiple Choice

Economic profit is equal to the difference between:

• A)total revenue and the full opportunity cost of all the resources used in production.
• B)total revenue and implicit costs.
• C)accounting profit and explicit costs.
• D)implicit and explicit costs.

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Definitions:

Computer's Components

The physical parts of a computer, such as the motherboard, processor, RAM, and hard drive, that work together to perform computing tasks.

Natural Language Processing

A field of computer science and artificial intelligence concerned with the interactions between computers and human (natural) languages.

Software

Programs and operating information used by a computer to perform tasks.

Human Languages

The systems of communication used by humans, consisting of spoken, written, or signed words and the ways they are combined to convey meaning.