Which of the following terms does the following define? a firm's total revenue from sales of output minus the firm's explicit costs. in other words, it is the total money made from sales of cupcakes minus the cost to make the cupcakes. accounting profit is in most cases the same as the common understanding of profit
a. implicit costs
b. explicit costs
c. economic profit
d. accounting profit

answer is d

Read the aphorisms. be slow in choosing a friend, slower in changing. an open foe may prove a curse; but a pretended friend is worse. a true friend is the best possession. according to these aphorisms from benjamin franklin's poor richard's almanack, what might happen if a person is careless in choosing a friend? it is best not to have friends because they will usually betray you. casual friends are often the best and can be more trusted than enemies. a person who has betrayed you can sometimes become a good friend. a friend who is not carefully chosen can be worse than an enemy.