?

AP® Macroeconomics

Free Version

Upgrade subject to access all content

Moderate

Economic Profit and Accounting Profit

APMACR-CV1YHL

Which of the following is NOT true of economic profit?

A

Economic profit may be negative.

B

Economic profit is the same as accounting profit.

C

Economic profit includes explicit and implicit costs.

D

Economic profit factors opportunity costs into profit calculations.

E

Economic profit is affected by rent.