When a Business Has Implicit Costs

question 377

Multiple Choice

When a business has implicit costs

• A) economic profits are greater than accounting profits.
• B) economic and accounting profits are the same.
• C) economic profits are less than accounting profits.
• D) economic costs are the same as accounting costs.

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Definitions:

Lattice

A regular, repeated three-dimensional arrangement of atoms, ions, or molecules in a metal or other crystalline solid.

Octahedron

A geometric shape with eight faces, often used to describe the structure of certain crystals or molecules.

Tetrahedron

A polyhedron with four triangular faces, six straight edges, and four vertex corners.

Dodecahedron

A three-dimensional shape having twelve flat faces, each a regular pentagon, often studied in geometry and used in various applications.