If a Firm Has Implicit Costs as Well as Explicit

question 5

Multiple Choice

If a firm has implicit costs as well as explicit costs

• A)net income will always be less than accounting profit.
• B)accounting profit will be zero.
• C)net income will always be greater than accounting profit.
• D)economic profit will be less than accounting profit.

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Definitions:

Barter

The practice of exchanging products and services for other products and services rather than for money.

Global Sales

The total sales revenue generated from a company's products or services across different countries around the world.

Dollar Value

The monetary worth or significance of something, often used in the context of comparing currencies or assessing financial contributions or costs.