Which of the following is NOT an example of implicit costs?
A) The return stockholders could have earned with another company.
B) The fees the firm could have earned from leasing its computers.
C) The revenue the firm could collect from selling its furniture.
D) The interest the owners could have earned on their personal monies invested in the firm.
E) The salary of the CEO.
Correct Answer:
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Q1: If buyers and sellers were free to
Q2: Explicit costs
A) are the only costs that
Q3: Suppose that a remote community in New
Q4: Economic profit is
A) the same as accounting
Q5: The correct definition of economic profit is
A)
Q7: The value of income received by a
Q8: Accounting profit is
A) the only measure of
Q9: When total revenue is less than the
Q10: Implicit costs
A) are always fixed.
B) appear in
Q11: Which of the following would NOT be
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