A Firm's Total Explicit Costs Are $1,000

question 192

Multiple Choice

A firm's total explicit costs are $1,000. Its total implicit costs are $500, and it has a total revenue of $900. This firm receives

• A) an accounting profit only.
• B) an economic profit only.
• C) both an economic profit and an accounting profit.
• D) neither an economic profit nor an accounting profit.

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Definitions:

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Zenefits

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