Total Revenue Minus Only Explicit Costs Is Called

question 200

Multiple Choice

Total revenue minus only explicit costs is called

• A) accounting profit.
• B) economic profit.
• C) average total cost.
• D) None of the above is correct.

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Definitions:

Bourgeoisie

The social class that came to own the means of production during modern industrialization, typically referring to wealthier members of society or the middle class.

Middle Class

A socioeconomic group situated between the working class and the upper class, typically composed of professionals, business owners, and white-collar workers.

Peasant

A farmer of low social status who owns or rents a small piece of land for cultivation, historically part of rural and agrarian societies.

Switzerland

A landlocked country in Central Europe known for its neutrality, diverse cultures, and high quality of life, as well as its mountains and lakes.