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28 Mar 2018
36. Which of the following is false? (a) Economic profit = Total revenue - Total cost. (b) Accounting profit = Economic profit + Implicit cost. (c) Accounting profit = Total revenue + Explicit cost. (d) Economic profit = Accounting profit - Explicit cost.
36. Which of the following is false? (a) Economic profit = Total revenue - Total cost. (b) Accounting profit = Economic profit + Implicit cost. (c) Accounting profit = Total revenue + Explicit cost. (d) Economic profit = Accounting profit - Explicit cost.
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