(Solution) - Please explain whether the following statements are true or false a -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Please explain whether the following statements are true or false.
a) If the owner of a business pays himself no salary, then the accounting cost is zero, but the economic cost is positive.
b) A firm that has positive accounting profit does not necessarily have positive economic profit.
c) If a firm hires a currently unemployed worker, the opportunity cost of utilizing the worker?s services is zero.