Which of the Following Is the Formula Used for Computing

question 101

Multiple Choice

Which of the following is the formula used for computing economic profits?

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

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Definitions:

Systems Software

A type of computer software designed to provide a platform for other software applications to run.

Software Suite

A collection of related programs or applications that are bundled together and designed to work collectively to perform tasks.

Social Interfaces

Platforms or technologies that facilitate social interactions and communications among individuals or groups.

Systems Software

The collection of software designed to provide services to other software applications and to manage the hardware of a computer, including operating systems and utility programs.