What is the difference between accounting profit and economic profit?marginal costsO explicit financial costsOfixed costsO implicit opportunity costst Extrinsic motivation is the:desire to do something for the enjoyment of the activity itself.incentive to improve to exceed another person in a competitive sense.incentive to improve and be better at a task than a set standard.O desire to do something for its external rewards.

Total revenue is the product of price and quantity. Monetary expenses are the explicit cost.…

Answered: What is the difference between…

What is the difference between accounting profit and economic profit? Omarginal costs explicit financial costs Ofixed costs O implicit opportunity 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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Question

What is the difference between accounting profit and economic profit?
marginal costs
O explicit financial costs
Ofixed costs
O implicit opportunity costs
t

Extrinsic motivation is the:
desire to do something for the enjoyment of the activity itself.
incentive to improve to exceed another person in a competitive sense.
incentive to improve and be better at a task than a set standard.
O desire to do something for its external rewards.

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