Author Question: How does the economist's measure of profit differ from the accountant's measure? A) Economists ... (Read 146 times)

sabina · **on:** Jun 29, 2018

How does the economist's measure of profit differ from the accountant's measure?

A) Economists subtract total revenue from total cost; accountants do the opposite.
B) Economists subtract total costs from total revenue; accountants do the opposite.
C) Economists consider more sources of monetary revenue than accountants do.
D) Economists include all opportunity costs, accountants don't.
E) There is no difference between the two measures.

Question 2

In 2014, the price of peanuts increased. In the market for peanut butter, this change led to ________ and which therefore ________ the price of peanut butter and ________ the quantity of peanut butter.

A) a decrease in the supply; increased; decreased
B) an increase in supply; decreased; increased
C) a decrease in demand; decreased; decreased
D) an increase in demand; increased; increased