Which of the Following Expressions Is Correct

question 54

Multiple Choice

Which of the following expressions is correct?

• A)accounting profit = economic profit + implicit costs
• B)accounting profit = total revenue − implicit costs
• C)economic profit = accounting profit + explicit costs
• D)economic profit = total revenue − implicit costs

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Definitions:

Behaviorism

A branch of psychology that focuses on observable behaviors rather than on internal processes such as thoughts and feelings.

Cognitive Mechanisms

Mental processes that enable understanding, analysis, decision-making, and learning, influencing how individuals perceive and interact with the world.

Free Will

The concept that humans have the ability to make choices that are not predetermined by past events or natural laws.

Funder's First Law

The psychological principle stating that "Great strengths are usually great weaknesses, and surprisingly often the opposite is true as well," highlighting the complexity of personality traits.