Wgu c718 vocabulary 2025 - Study guides, Class notes & Summaries

WGU C718 vocabulary Test Questions with Answers 2024/2025 absolute advantage - ️️ -when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - ️️ -profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - ️️ -additional costs incurred by third parties outside the production process when a unit of output is produced adverse ...

WGU C718 vocabulary | Questions and Correct Solutions 2024 absolute advantage - Answer -when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - Answer -profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - Answer -additional costs incurred by third parties outside the production process when a unit of output is produced adverse...