Asked by
Ashley Hudak
on Nov 04, 2024
Verified
Economic profit accounts for both implicit and explicit costs.
Capital Intensive
A description of industries or businesses that require large amounts of capital investment compared to labor.
Alternative Technologies
Various methods or means of producing goods or services that differ from current practices, often to improve efficiency or sustainability.
- Understand the distinction between economic profit and accounting profit.
Verified Answer
AG
Learning Objectives
- Understand the distinction between economic profit and accounting profit.