Costs paid in money to hire a resource is
A) normal profit.
B) an implicit cost.
C) an explicit cost.
D) an alternative-use cost.
E) economic profit.
Correct Answer:
Verified
Q37: Normal profit is
A) part of the firm's
Q38: The opportunity cost of owning and using
Q39: A normal profit is defined as
A) total
Q40: A firm's total revenue minus its total
Q41: The short run is
A) less than one
Q43: The paramount goal of a firm is
Q44: The long run is a time period
Q45: The short run is the time frame
A)
Q46: Bill is an economics professor who earns
Q47: The opportunity cost of a firm using
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