Economists calculate profits as total revenue minus
A) depreciation.
B) the sum of explicit and implicit costs.
C) the sum of explicit costs and depreciation.
D) raw material costs.
Correct Answer:
Verified
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
Q35: Explicit costs are called _ costs, and
Q37: Which is NOT considered an explicit cost?
A)
Q38: A normal rate of return on capital
A)
Q39: Money that a firm spends on health
Q40: The cost incurred by a firm through
Q41: All of these are examples of implicit
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