Consider the following statements about economic profits and accounting profits. Select all the statements which are true. Economic profits are always larger than accounting profits Firms that earn zero economic profits probably earn positive accounting profits Economic profits include both explicit and implicit costs, while accounting profits include only implicit costs Publicly traded firms report accounting profits, not economic profits

Consider the following statements about economic profits and accounting profits. Select all the statements which are true. Economic profits are always larger than accounting profits Firms that earn zero economic profits probably earn positive accounting profits Economic profits include both explicit and implicit costs, while accounting profits include only implicit costs Publicly traded firms report accounting profits, not economic profits