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Alexxandr [17]
3 years ago
15

Accounting profit is equal to a. total revenue minus the opportunity cost of producing goods and services. b. average revenue mi

nus the average cost of producing the last unit of a good or service. c. total revenue minus the explicit cost of producing goods and services. d. marginal revenue minus marginal cost.
Business
1 answer:
NeTakaya3 years ago
5 0

<u>Answer:</u>Option C

<u>Explanation:</u>

Accounting profit means the book keeping profit where the explicit cost is taken and subtracted from the revenue of the firm. This rule is followed according to the GAAP rule of accounting. The explicit cost of production includes the production cost, raw material costs, distribution costs, and other production expenses.

Explicit cost are the direct cost incurred in the production of goods and services. Hence these cost are deducted from revenue. Implicit cost are hidden cost which are not paid directly.

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1. How do customers judge the quality of a supermarket? 2. Indicate how and why each of these factors is important to the succes
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Answer:

1. How do customers judge the quality of a supermarket?

They judge the quality of a supermarket depending on their values and most urgent needs.

Customers who value quality, and even luxury, will say that a good supermarket is one that offers high quality products.

Customers who value price, will prefer a low-cost supermarket.

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