a. Assuming that explicit costs are positive, accounting profit is equal to economic profit.
b. Assuming that explicit costs are positive, economic profit is greater than accounting profit.
c. Assuming that implicit costs are positive, economic profit is positive.
d. Assuming that implicit costs are positive, accounting profit is greater than economic profit.
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Home » Business » Which of the following statements is correct? a. Assuming that explicit costs are positive, accounting profit is equal to economic profit. b. Assuming that explicit costs are positive, economic profit is greater than accounting profit. c.