Which of the Following Is True If the Opportunity Cost

question 34

Multiple Choice

Which of the following is true if the opportunity cost of producing a particular good is less than its accounting profit?

• A)Economic profit is zero.
• B)Economic profit is negative.
• C)Economic profit is positive.
• D)Economic profit cannot be determined.

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Definitions:

Welfare Payments

Financial assistance payments made by the government to individuals or families in need.

Theories Of Poverty

Diverse explanations about the causes and persistence of poverty that influence social policy and intervention strategies.

Conservatives And Liberals

Political ideologies with conservatives often favoring tradition, and liberals advocating for change and social equality.

Workfare

A plan that requires welfare recipients to accept jobs or to enter training programs.