In what way does an economist's measurement of profit differ from an accountant's? O Accountants calculate total revenue differently. Accountants do NOT always include all of the opportunity costs when calculating total production costs. Economists calculate higher profits for firms as economic profit generally exceeds accounting profit. Economists do NOT always include all of the opportunity costs when calculating total production costs.
In what way does an economist's measurement of profit differ from an accountant's? O Accountants calculate total revenue differently. Accountants do NOT always include all of the opportunity costs when calculating total production costs. Economists calculate higher profits for firms as economic profit generally exceeds accounting profit. Economists do NOT always include all of the opportunity costs when calculating total production costs.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQ
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