An economist's measurement of profit differs from an accountant's in that:

a. accountants calculate total revenue differently than do economists.

b. economists do not always include all of the opportunity costs when calculating total production costs.

c. accountants do not always include all of the opportunity costs when calculating total production costs.

d. economic profit generally exceeds accounting profit.

Question

Business

Mireya Rasmussen

29 June, 16:07

An economist's measurement of profit differs from an accountant's in that:

a. accountants calculate total revenue differently than do economists.

b. economists do not always include all of the opportunity costs when calculating total production costs.

c. accountants do not always include all of the opportunity costs when calculating total production costs.

d. economic profit generally exceeds accounting profit.

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Skylar Vaughn · Answer 1

An economist's measurement of profit differs from an accountant's in that accountants do not always include all of the opportunity costs when calculating total production costs. When the economist are trying to determine opportunity costs they account for all of production costs. Accounts won't always account for them and their affects on the business statements.