After being employed at Graphics, Inc.you started your own company, Graphics R Us.In addition to your raw materials to produce custom images, you rent your space and are responsible for all utilities and insurance on the building and capital equipment.You employ two assistants.Which of the following is not considered part of the total costs of production?
A) Costs of raw material to produce a good or service
B) Utilities for the space
C) Lost salary for your skills and talents at your former job
D) Taxes on your building
Correct Answer:
Verified
Q9: Which of the following defines marginal cost
Q10: The demand curve for a firm in
Q11: A firm's price is greater than marginal
Q12: Total costs of production include direct costs
Q13: The profit maximizing rule applies
A)only when a
Q15: Use the graphs to answer questions
Q16: A firm's price is equal to marginal
Q17: The goal of any firm is to
A)minimize
Q18: A firm that is the only seller
Q19: The profit-maximizing level of output occurs where
A)TR=TC.
B)TR=MC.
C)MR=MC.
D)MR=TC.
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