Complete the sentences to illustrate how economists and accountants view profit differently.Economic profit isO typically lower than accounting profit.always zero.O typically higher than accounting profit.Economic costs and accounting costs differ because accountants includeonly explicit costs.neither explicit nor implicit costs.both explicit and implicit costs.O only implicit costs.46°F Question 1 of 30Economic costs and accounting costs differ because accountants includeonly explicit costs.O neither explicit nor implicit costs.both explicit and implicit costs.O only implicit costs.Economic costs and accounting costs differ because economists includeboth explicit and implicit costs.O only explicit costs.O neither explicit nor implicit costs.O only implicit costs.46°Fa

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Complete the sentences to illustrate how economists and accountants view profit differently. Economic profit is O typically lower than accounting profit. always zero. O typically higher than accounting profit. Economic costs and accounting costs differ because accountants include O only explicit costs. neither explicit nor implicit costs. O both explicit and implicit costs. O only implicit costs.

Complete the sentences to illustrate how economists and accountants view profit differently. Economic profit is O typically lower than accounting profit. always zero. O typically higher than accounting profit. Economic costs and accounting costs differ because accountants include O only explicit costs. neither explicit nor implicit costs. O both explicit and implicit costs. O only implicit costs.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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