An economist's measurement of profit differs from an accountant's ...

[jCorn1234]

An economist's measurement of profit differs from an accountant's in that:
 a. accountants calculate total revenue differently than do economists.
 b. economists do not always include all of the opportunity costs when calculating total production costs.
  c. accountants do not always include all of the opportunity costs when calculating total production costs.
  d. economic profit generally exceeds accounting profit.

Question 2

An increase in the wage rate lowers the opportunity cost of leisure and induces people to enjoy more leisure.
 a. True
  b. False
  Indicate whether the statement is true or false

[b614102004]

Answer to Question 1

c

Answer to Question 2

False

[jCorn1234]

Thanks for the timely response, appreciate it

[ebonylittles]

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