Which is NOT considered an explicit cost?
A) electricity
B) opportunity cost of capital
C) liability insurance
D) rent
Correct Answer:
Verified
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
Q36: Economists calculate profits as total revenue minus
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
Q42: Which is NOT an explicit cost?
A) lease
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