Which of the Following Statements Is Correct

question 42

Multiple Choice

Which of the following statements is correct?

• A)Assuming that explicit costs are positive, economic profit is greater than accounting profit.
• B)Assuming that implicit costs are positive, accounting profit is greater than economic profit.
• C)Assuming that explicit costs are positive, accounting profit is equal to economic profit.
• D)Assuming that implicit costs are positive, economic profit is positive.