Costs that require a monetary payment are known as _____ costs.
A) implicit
B) explicit
C) finance
D) economic
Correct Answer:
Verified
Q1: _ is the positive difference between revenue
Q2: Total revenue minus total cost is:
A) loss.
B)
Q3: _ costs are input costs that involve
Q5: _ profit is total revenue minus accounting
Q6: _ profit is total revenue minus explicit
Q7: _ costs are explicit costs of production.
A)
Q8: _ costs do not involve the payment
Q9: _ profit is total revenue less economic
Q10: _ profit is total revenue minus implicit
Q11: Economists include _ in calculating economic profit.
A)
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