When Ford hires Ernst and Young Consulting to help Ford redesign its marketing, Ford's payment to Ernst and Young is classified as
A) normal profit.
B) depreciation.
C) an implicit cost.
D) an explicit cost.
E) economic profit.
Correct Answer:
Verified
Q2: John fishes for a living. Last year,
Q3: Interest is considered a(n)
A) form of depreciation
Q4: Darryl runs a sheep station near Broken
Q5: Which of the following are correct statements
Q6: In economics, a 'normal profit' is the
Q8: _ cost is defined as a cost
Q9: Which of the following is an explicit
Q10: Suppose a firm's total revenue is $1,000,000.
Q11: When an economist uses the term 'cost'
Q12: The primary goal of a business firm
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