Implicit costs are best thought of as:
A) variable costs.
B) marginal costs.
C) accounting costs.
D) opportunity costs.
Correct Answer:
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Q1: Explicit costs would include:
A) rent.
B) the interest
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A) labour costs to the
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A) total
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Q8: Marginal product measures the change in:
A) total
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Q32: The short run is a period of
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