Economics · Cost Theory
The difference between the Economic Cost and Accounting Cost of a firm is equal to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1the sunk costs incurred by the firm.
- 2the opportunity costs of the factors of production that the firm owns.✓
- 3the corporate taxes on profit.
- 4the explicit costs of the firm.
Correct answer
the opportunity costs of the factors of production that the firm owns.
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