All of these are explicit costs, EXCEPT
A) salaries paid to employees.
B) business taxes paid by an entrepreneur.
C) the salary an entrepreneur could have earned in a corporate job.
D) money paid for raw materials.
Correct Answer:
Verified
Q24: Profits are equal to the difference between
Q25: Economists explicitly assume that the primary objective
Q26: Most economists assume that firms behave _
Q27: Economists assume that firms try to _.
Q28: The price of a mango is $2
Q30: Economic profit is total revenue minus
A) implicit
Q31: Which is an implicit cost?
A) material cost
B)
Q32: Economic costs are the sum of _
Q33: All of these are included in implicit
Q34: Money that is a real cost to
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