logoSign upLog in
Narendcran.V Narendran

Narendcran.V Narendran

Explicit costs are monetary costs a firm has. Implicit costs are the opportunity costs of a firm's resources. Accounting profit is the monetary costs a firm pays out and the revenue a firm receives. It is the bookkeeping profit, and it is higher than economic profit. Accounting profit = total monetary revenue- total costs. Economic profit is the monetary costs and opportunity costs a firm pays and the revenue a firm receives. Economic profit = total revenue - (explicit costs + implicit costs). “Difference Between Economic

Difference Between Economic and Accounting Profit
Difference Between Economic and Accounting Profit
www.boundless.com Learn more about difference between economic and accounting profit in the Boundless open...
Relevant