Production costs to an economist
A) consist only of explicit costs.
B) reflect opportunity costs.
C) never reflect monetary outlays.
D) always reflect monetary outlays.
Correct Answer:
Verified
Q37: The following is cost information for the
Q92: To the economist, total cost includes
A)explicit and
Q93: Which of the following definitions is correct?
A)Accounting
Q94: The following is cost information for the
Q95: Suppose that a business incurred implicit costs
Q98: The following is cost information for the
Q99: An explicit cost is
A)omitted when accounting profits
Q100: Accounting profits equal total revenue minus
A)total explicit
Q101: The basic characteristic of the short run
Q102: The long run is characterized by
A)the relevance
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