Vanguard Essay Preview: Vanguard Report this essay Explain the difference between economic profits and accounting profits. Economic profits are profits which deduct from profit not only sales revenue and economic cost, but they also deduct opportunity cost. Opportunity cost would be the economic value of a companys assets and resources (i.e. plant / equipment), had.
Vanguard Essay title: Vanguard Explain the difference between economic profits and accounting profits. Economic profits are profits which deduct from profit not only sales revenue and economic cost, but they also deduct opportunity cost. Opportunity cost would be the economic value of a company’s assets and resources (i.e. plant / equipment), had they been employed.
Essay Preview: Ib Report this essay ECONOMICS 10-8 ECON 10-8: FINAL EXAM 12/16/00 PROF. WILDE In microeconomics, we typically assume that producers are attempting to maximize profits, which can be measured by: total costs – total revenues (P – ATC) Q (Q-ATC) P PQ – ATC P(ATC) – Q In microeconomics, we refer to the.
