An implicit cost is:
A) an opportunity cost to a firm.
B) an out-of-pocket expense for a firm.
C) always included by an accountant while calculating profits
D) a cost that does not affect future business decisions.
E) always larger than explicit costs.
Correct Answer:
Verified
Q26: When economic profits in an industry are
Q27: Economic profits are calculated after taking into
Q28: An explicit cost is:
A)an opportunity cost for
Q29: An example of an implicit cost of
Q30: David was taken to a concert by
Q32: Lintell Inc. earned a total revenue of
Q33: When long-run average total cost does not
Q34: When a firm makes zero economic profit,
Q35: private costs are included in economic profit
Q36: Lintell Inc. earned a total revenue of
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