All of these are examples of implicit costs EXCEPT
A) office rent expenses.
B) the value of next best alternative use of an entrepreneur's time.
C) earnings that an entrepreneur could have made in another job.
D) opportunity cost of a firm's capital.
Correct Answer:
Verified
Q36: Economists calculate profits as total revenue minus
A)
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
Q42: Which is NOT an explicit cost?
A) lease
Q43: Atomic Café has just opened a new,
Q44: Costs that cannot be recovered are _
Q45: Which of these events occur in the
Q46: Money spent by a politician for a
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