Which of the following is not an explicit cost?
A) Salaries.
B) Sales taxes.
C) Utilities, such as gas and electricity.
D) Insurance.
E) The firm owner's time.
Correct Answer:
Verified
Q5: When total revenue minus total cost is
Q14: Two friends, Diane and Sam, own and
Q15: A young chef is considering opening his
Q15: Sam quits his job as an airline
Q16: Unlike implicit costs, explicit costs:
A) reflect opportunity
Q17: The amount of money that could have
Q20: Which of the following are implicit costs
Q21: Suppose a firm has total revenue of
Q24: Economists say that a firm has a
Q185: Economic profit is
A) total revenues minus variable
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents