For MOST firms,economic profit is:A) less than accounting profit.B) equal to accounting profit.C) greater than accounting profit.D) negative.

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Layla Vegas · Accepted Answer

Final Answer : A, Explanation :  Economic profit is typically less than accounting profit because it includes both explicit and implicit costs, while accounting profit only includes explicit costs. Implicit costs are the opportunity costs of using resources that the firm already owns, effectively reducing the economic profit.

For MOST firms,economic profit is:

A) less than accounting profit.
B) equal to accounting profit.
C) greater than accounting profit.
D) negative.

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