Economic profit and opportunity costs

Related BrainMass Solutions

• Incurring economic profit or loss

  In light of your answers to b. and c., calculate Joe's implicit cost, opportunity cost and economic profit or loss.

• economic and accounting profits

  Accounting Profit= Sales -total costs which are recorded in the accounting books Economic Profit= Sales -Total costs- Imputed costs /Opportunity costs (Which may not be recorded) or Economic Profit= Accounting profit-implicit cost REFERENCE:

• What are some examples that lead to economic profit or loss, but not necessarily a recognizable event for accounting purposes?

  In light of your answers to b. and c., calculate Joe's implicit cost, opportunity cost and economic profit or loss.

• difference between accounting and economic profit

  In other words, economic profit also takes into account opportunity cost of capital invested in the business, apart from other costs. Economic profit is lower than the accounting profit.

• Comparison of Accounting & Economic Profits

  In doing this assignment, I learned that economic profit, in comparison to accounting profit, takes into account the opportunity cost of the capital and resources invested into a business.

• Accounting costs, profits, Economics profit

  s=wpd&c=dsp&k=economic+profit 4) Yes, true because economic profits not only take into account accounting or normal costs, but also includes opportunity costs.

• Economic Profit Vs Accounting Profit

  This solution illustrates the difference between economic profit and accounting profit by giving a step-by-step example that calculates and contrasts economic profit and accounting profit, incorporating product costs, revenue generated, and opportunity

• Managerial Decisions in competitive markets

  Hence economic profit is revenue minus all opportunity cost -- most that are explicit accounting expenses and others that are implicit cost.

• Accounting Versus Economic Profit

  In light of your answers to b. and c., calculate Joe's implicit cost, opportunity cost and economic profit or loss.