Profit Computed Without Implicit Costs Is _____ Profit

question 132

Multiple Choice

Profit computed without implicit costs is _____ profit.

• A)explicit
• B)accounting
• C)implicit
• D)economic

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Definitions:

United States

A country in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Health Care Industry

The sector that provides medical services, manufactures medical equipment or drugs, provides medical insurance, or facilitates the provision of healthcare to patients.

Rapidly Rising Costs

A scenario where the expenses of producing goods or services increase significantly in a short period of time.

Unequal Access

A situation where resources, services, or rights are not equally available to all individuals or groups.