Difference between economic profit and accounting profit

Reference no: EM13825646

Problems-

1. The difference between economic profit and accounting profit is due to the economists' inclusion of opportunity costs of capital.

A) True

B) False

2. The short-run supply curve for an industry is derived by adding together the output of every firm in the industry at various prices.

A) True

B) False

Additional Information-

These multiple choice problems belong to Economics. The first problem is about the difference between accounting profit and economic profit and the second problem is about deriving at short-run supply curve for an industry.

Reference no: EM13825646

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