1.1.1.depreciation Over Straight-Line Depreciation

question 85

Multiple Choice

1.1.1.depreciation over straight-line depreciation?

• A)$3,000
• B)$4,000
• C)$7,000
• D)$11,100

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Definitions:

Economic Profits

The excess of total revenues over total costs, including both explicit costs and opportunity costs, indicating a return beyond the normal profit level.

Accounting Profits

The net earnings of a company as calculated by subtracting total expenses from total revenues, according to standard accounting practices.

Perfect Competitor

A theoretical market structure where many firms sell homogeneous products, entry and exit from the market are free, and all participants have perfect information.

Perfectly Elastic

Perfectly elastic describes a situation where the quantity demanded or supplied changes by an infinite amount in response to any change in price, represented graphically as a horizontal line.