Among the opportunity costs of a firm are all of the following EXCEPT
A) the owner's forgone wage.
B) costs of resources bought in markets, such as labor.
C) normal profits.
D) economic profits.
Correct Answer:
Verified
Q30: Suppose Pippi buys an oven for her
Q31: Heidi quit her job as a chef
Q32: Economic profit is
A) equal to the firm's
Q33: Flora's Flower Shop bought a new van
Q34: Sheila's Sports Shop is a very popular
Q36: An economic profit for a self-employed entrepreneur
Q37: Which of the following statements does NOT
Q38: Heidi quit her job as a chef
Q39: A normal profit is
A) the revenue remaining
Q40: The return that an entrepreneur can expect
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