Which of the Following Equations Is Correct

question 177

Multiple Choice

Which of the following equations is correct?

• A) accounting profit = total revenue - (explicit costs + implicit costs)
• B) normal profit = accounting profit + economic profit
• C) economic profit = accounting profit - implicit costs
• D) economic profit = accounting profit - explicit costs

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Definitions:

Anion

A negatively charged ion, attracted to the anode during electrolysis, typically formed by the gain of electrons.

Anion

A negatively charged ion, which is formed when an atom gains one or more electrons.

KCN

Potassium cyanide, a highly toxic compound that can release cyanide ions in solution, used in various industrial processes and, historically, in gold mining.

CN-

The cyanide ion, a negatively charged molecule consisting of one carbon and one nitrogen atom, known for its high toxicity.