The cost expressed not in terms of money but in terms of efforts of workers undergone for making the commodity
A) opportunity cost
B) real cost
C) sacrifice cost
D) implicit cost
Correct Answer:
Verified
Q15: In long run, which factor of production
Q16: The U shape of the average total
Q17: The total fixed cost is a
A)horizontal straight
Q18: When AC minimum in short run
A)ac <
Q19: The shape of TVC and TC are
A)rectangular
Q21: The MC curve cuts the AC curve
Q22: The minimum point of ATC is at
Q23: If the long run cost curve shifts
Q24: The U shape of the LAC reflects
A)law
Q25: A production possibility curve is concave to
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