is t possible for accounting profit to be positive and economic profito be negative? OA No, economic profit and accounting profit will always end up being the same. OB Na, economic profit must always be larger than accounting profit. OC Yes, this could ocour if explicit costs were modest and implicit costs were high. OD. Yas, this could occur if impiat costs were modest and explicit costs were high.
is t possible for accounting profit to be positive and economic profito be negative? OA No, economic profit and accounting profit will always end up being the same. OB Na, economic profit must always be larger than accounting profit. OC Yes, this could ocour if explicit costs were modest and implicit costs were high. OD. Yas, this could occur if impiat costs were modest and explicit costs were high.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Isit possible for accounting profit to be positive and economic profit to be negative?
OA No, econamic profit and accounting profit will always end up being the same.
OB. No, economic profit must always be larger than accounting profit
OC Yes, this could occur if explict costs were modest and implicit costs wern high.
OD. Yos, this could occur if impliat costs were modest and explict costs wern high.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37acdbc4-147b-4bbc-b12c-4077453cb685%2F9c4f12a1-5ee8-4a0b-9e7c-5a0b836ec516%2F039q80s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Isit possible for accounting profit to be positive and economic profit to be negative?
OA No, econamic profit and accounting profit will always end up being the same.
OB. No, economic profit must always be larger than accounting profit
OC Yes, this could occur if explict costs were modest and implicit costs wern high.
OD. Yos, this could occur if impliat costs were modest and explict costs wern high.
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