An example of an implicit cost is:
A) interest paid on a bank loan used to purchases equipment.
B) wages paid to a family member who works at the firm.
C) the value of a spare bedroom turned into a home office.
D) operating costs of a company-owned car.
Correct Answer:
Verified
Q12: Economic theory assumes that a firm's goal
Q13: Which of the following would not be
Q14: Last year Christine worked as a consultant.
Q15: Curly told Larry about his new business
Q16: Last year Christine worked as a consultant.
Q18: Accounting profit minus implicit costs equals:
A)total revenues.
B)economic
Q19: Which of the following statements about implicit
Q20: Which of the following statements about explicit
Q21: Suppose Lando Calrissian owns a smuggling
Q22: The allocative function of price is to:
A)distribute
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