Which of the following are implicit costs for a typical firm?
A) Insurance costs.
B) Electricity costs.
C) Opportunity costs of capital owned and used by the firm.
D) Cost of labour hired by the firm.
E) The cost of raw materials.
Correct Answer:
Verified
Q3: Implicit costs are:
A)labour costs to the firm.
B)the
Q4: An economist left her $100 000-a-year teaching
Q5: If a firm has total revenue of
Q5: Explicit costs would include:
A) rent.
B) the interest
Q9: Economic profit is:
A)always zero.
B)always less than accounting
Q13: Implicit costs are best thought of as:
A)
Q13: Which of the following statements is true?
A)
Q14: A farm can produce 10 000 bushels
Q15: In the long run, total fixed cost:
A)
Q39: During the course of a week, McDonald's
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