__________________ behavior operates on the environment, whereas ________________ behavior occurs as an automatic response to so
1 answer:
You might be interested in
Answer:b
Explanation:
Given
Implicit cost=$ 200,000
Explicit cost=$ 1 million
4000 units
Output=$ 300 per unit
therefore revenue
as we need to compute accounting profit therefore we do not consider the implicit cost
accounting Profit=1.2-1=$ 0.2 million
and economic Profit =Revenue -explicit cost-Implicit cost
economic Profit=0.2-0.2=0
Thus option b is most appropriate