The best measure of the economic cost of doing your homework is
A) The most valuable opportunity you give up when you do your homework.
B) The amount you would have to pay to get someone else to do it.
C) The economic cost plus the accounting cost of doing the homework.
Correct Answer:
Verified
Q1: Explicit costs
A)Include only payments to entrepreneurship.
B)Are the
Q2: Greater-than-normal profit represents
A)Explicit costs minus implicit costs.
B)Payment
Q4: All of the following are ways a
Q5: Economists assume the principal motivation of producers
Q6: In defining economic costs,economists emphasize
A)Explicit and implicit
Q7: Which of the following should not be
Q8: Adam Weed is the owner/operator of a
Q9: Normal profit
A)Covers the full opportunity cost of
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