Which of the Following Statements Is Correct

question 42

Multiple Choice

Which of the following statements is correct?

• A)Assuming that explicit costs are positive, economic profit is greater than accounting profit.
• B)Assuming that implicit costs are positive, accounting profit is greater than economic profit.
• C)Assuming that explicit costs are positive, accounting profit is equal to economic profit.
• D)Assuming that implicit costs are positive, economic profit is positive.

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Definitions:

Cognitive Functioning

The mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.

Plagiarism

Plagiarism is the act of using someone else's work or ideas without proper attribution, presenting them as one's own original work.

Summarizing

The process of briefly stating the main points of a larger piece of text or conversation.

Quoting

The act of repeating or copying out words from a text or speech written or spoken by another person, often indicated by quotation marks.