Which of the following distinctions does not help to explain the difference between relevant and irrelevant cost?
A) historical vs.replacement cost
B) sunk vs.incremental cost
C) variable vs.fixed cost
D) out-of-pocket vs.opportunity cost
E) All help to explain the difference.
Correct Answer:
Verified
Q1: Which of the following is most likely
Q2: The law of diminishing returns begins first
Q3: Which of the following is a relevant
Q4: MC increases because
A)MC naturally increases as the
Q5: When a firm increased its output by
Q7: Average fixed cost is
A)AC minus AVC.
B)TC divided
Q8: Costs of production that change with the
Q9: To an economist,total costs include
A)explicit,but not implicit
Q10: Which of the following distinctions helps to
Q31: Economic profit equals accounting profit minus:
A) explicit
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