Sodium silicate, commonly known as âwaterglassâ, is prominent due to wide commercial and industrial application. It is often composed of an oxygen-silicon polymer backbone housing water in molecular matrix pores. Sodium silicate products are manufactured as solids or thick liquids, depending on intended use. For instance, waterglass functions as a sealant in metal components. Lastly, although sodium silicate production is a mature industry, there is ongoing research for new applications given its heat conductive properties.
T/F Profit equals marginal revenue minus marginal cost. T/F The difference between economic profit and accounting profit is that economic profit is calculated. based on both implicit and explicit costs whereas accounting profit is calculated based on explicit. costs only. T/F Economic profit is greater than or equal to accounting profit.
Best Answer: Normal profit happens when the Economic profit (not accounting profit) is zero (TR=TC). What you have to pay attention to is that the TC is the total of both explicit and implicit cost. (TC=explicit + implicit cost). normal profit for me would be the same amount as my opportunity costs I had. Thus a normal profit for me would have been $50,000. I had accounting profit of $60,000. Because Accounting profit ignores opportunity costs, and economic profit considers them, my economic profit is $10,000.