Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
Question
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Chapter 21, Problem 4WNG
To determine

What happens to implicit cost if economic profit and accounting are equal.

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05:20
Students have asked these similar questions
if economic profit equals accounting profit, what do implicit cost equal?
If accounting profit is $400,000 greater than economic profit, what do implicit cost equal?
What is the difference between implicit and explicit costs? Why do economists include both implicit and explicit costs in their calculations of profit but accountants do not?
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