Q1086
Which one of the following statement is incorrect?
A.
Economic Profit = Total Revenue - Total Cost, including both explicit and implicit cost
B.
Accounting Profit = Total Revenue - Total Explicit Cost
C.
Marginal Product - The increase in output that arises from an additional unit of input
D.
Marginal Product - The decrease in output that arises from an additional unit of input
AnswerAnswer: Option D
Solution
Answer: Option D
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