Which of the following is NOT an example of explicit costs?
A) Wages paid to workers
B) Personal savings of the owner invested in the firm
C) Salaries paid to management
D) Office space rent
Correct Answer:
Verified
Q13: If a firm is earning zero economic
Q14: Chris was the business manager for a
Q15: An example of an implicit cost is:
A)interest
Q16: Suppose you quit your job to start
Q17: Accounting profits are:
A)equal to total revenues minus
Q19: Accounting profits minus implicit costs equals:
A)total revenues.
B)economic
Q20: Chris was the business manager for a
Q21: Pat used to work as an aerobics
Q22: If all firms in a perfectly competitive
Q23: Pat used to work as an aerobics
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