The economic cost of production is equal to:
A) explicit costs plus excess profit.
B) explicit costs plus normal profit.
C) implicit costs plus excess profit.
D) implicit costs plus normal profit.
Correct Answer:
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Q94: Daisy Plant owns and operates Rosey's Poseys,
Q95: When calculating profit economists include:
A) explicit costs.
B)
Q96: When calculating profit accountants include:
A) explicit costs.
B)
Q97: From an economist's point-of-view, which of the
Q98: Excess profit is the profit:
A) necessary to
Q100: If revenues are $50,000, explicit costs are
Q101: If revenues are $60,000, explicit costs are
Q102: In evaluating how businesses or households maximize
Q103: Total revenue is the:
A) revenue from one
Q104: Total revenue is calculated as:
A) revenue -
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