Because a Firm Has Implicit Costs as Well as Explicit

question 234

Multiple Choice

Because a firm has implicit costs as well as explicit costs,

• A)its economic profit is usually the same as its accounting profit.
• B)its accounting profit is always less than its economic profit.
• C)its economic profit is usually more than its accounting profit.
• D)its economic profit is usually less than its accounting profit.

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Definitions:

Intensity

The degree of strength, force, or concentration of a particular attribute or activity.

Brightness

Brightness refers to the perception of visual light's intensity and is directly related to the psychophysical experience of how "light" or "dark" an image appears.

Transduce

To convert energy from one form into another, especially in the context of sensory systems converting environmental stimuli to neural signals.

Wavelength

The distance between successive peaks of a wave, typically used in the context of electromagnetic waves, which determines its color and energy.