Economic cost can best be defined as:
A) any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers.
B) any contractual obligation to labor or material suppliers.
C) compensations that must be received by resource owners to ensure their continued supply.
D) all costs exclusive of payments to fixed factors of production.
Correct Answer:
Verified
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Q7: Which of the following is correct?
A) A
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A) firm with monopoly
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