When There Are Implicit Costs of Production

question 82

Multiple Choice

When there are implicit costs of production,

• A)accounting and economic profit are equal
• B)opportunity costs of production are zero
• C)explicit costs of production are small
• D)accounting profit will exceed economic profit
• E)economic profit will exceed accounting profit

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Definitions:

High-pitched Tones

Sounds that have a high frequency, often perceived as shrill or sharp.

Ear Infection

An inflammation of the inner, middle, or outer ear, often with infection caused by bacteria or viruses.

Excessive Crankiness

An heightened state of irritability or fussiness, often without a readily identified cause.